Cochlear Shakes Bear on Revenue Growth Prospects -- Market Talk

Dow Jones10-04

2336 GMT - Cochlear shakes off its bear at Citi on the assumption that the hearing-implant manufacturer can maintain the pace of revenue growth set over the past decade. Noting a 13% share-price decline since the Australia-listed company's annual result announcement, analyst Mathieu Chevrier tells clients that he thinks Cochlear can keep growing annual revenue at the 10% seen over the past decade. He writes in a note that ongoing investment in sales and marketing, coupled with R&D, should support this growth. Citi lifts its target price 20% to A$305.00 and raises its recommendation to neutral from sell. Shares are at A$287.70 ahead of the open. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

October 03, 2024 19:36 ET (23:36 GMT)

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