After a read through of a competitor’s result, Credit Suisse forecasts Cochlear’s market share increasing to around 59% in FY21
from 53% in FY19. It’s felt this is due to a superior brand and product portfolio and a sharp focus on the patient pipeline during covid.
Despite this positive, the broker continues to believe emerging markets will weigh on growth into FY22. The analyst’s FY21
EPS forecasts increase1% on market share gains though FY22 and FY23 EPS estimates are lowered by -4%.
The Neutral rating is unchanged and the target falls to $225 from $230.
Sector: Health Care Equipment & Services.
Target price is $225.00.Current Price is $216.58. Difference: $8.42 – (brackets indicate current price is over target). If COH meets the Credit Suisse target it will return approximately 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
