The company has launched its new 3.0 Tesla MRI implant which allows users to undergo these MRIs without surgery. Credit Suisse expects the company will receive limited benefit from the new product in the second half.
In the broker’s view, until Cochlear receives regulatory approval and launches this new implant in key developed markets it will continue to experience market share losses. Underperform rating and $168 target maintained.
Sector: Health Care Equipment & Services.
Target price is $168.00.Current Price is $181.58. Difference: ($13.58) – (brackets indicate current price is over target). If COH meets the Credit Suisse target it will return approximately -8% (excluding dividends, fees and charges – negative figures indicate an expected loss).