Citi expects net profit in FY19 of $275m, at the top end of guidance. The broker suspects market growth in North America will be lower than the prior corresponding period as Cochlear may have been more focused on protecting market share.
Net profit is expected to be up 14% in FY20. Given the increase in the share price the broker downgrades to Sell from Neutral. Target is steady at $198.
Sector: Health Care Equipment & Services.
Target price is $198.00.Current Price is $219.24. Difference: ($21.24) – (brackets indicate current price is over target). If COH meets the Citi target it will return approximately -11% (excluding dividends, fees and charges – negative figures indicate an expected loss).
