BUZZ-Australia's Cochlear up after Citi upgrades stock on sustained pace of growth

Reuters10-04

** Shares of hearing implants maker Cochlear rise as much as 1.5% to A$291.92

** Citi upgrades stock to "neutral" from "sell", raises PT to A$305/shr from A$255/shr

** "We expect COH to be able to maintain pace of revenue and profit growth, driven by double-digit growth in the Adults/Seniors market and single-digit growth in Children segment," Citi analysts write

** We assume that COH can maintain 10% growth for longer - Citi

** Co reported 27% jump in FY24 profit, but FY25 profit forecast missed market expectations; stock tanked over ~13% since mid-August

** Analysts rate stock "hold" on avg; median PT A$283.00 – LSEG data

** COH has fallen ~2.4% YTD

($1 = 1.4611 Australian dollars)

(Reporting by Archishma Iyer in Bengaluru)

((Archishma.Iyer@thomsonreuters.com;))

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