<WIRE> Morningstar Increases Fair Value Estimate on Medical Device Firm Cochlear (ASX:COH)

Morningstar analysts have raised their fair value estimate on Australian medical device company Cochlear (ASX:COH) by 4% to A$200.

The brokerage also upgraded its EBIT forecasts for the medical equipment maker by 2% on average over the next nine years.

Cochlear reported a 14% increase in its FY23 underlying net profit after tax to A$305 million ($197.21 million).

Moreover, the brokerage forecasts a five-year group compound annual revenue growth rate of 9% with sales growth moderating in the future.

Among 20 analysts, three rate the stock as a ‘buy’, 13 rate it as ‘hold’, and four rate it as ‘sell’; their median price target is A$235.50.

The firm’s stock has increased by 20.8% this year, as of the last closing price.

Cochlear (ASX:COH) is a globally renowned medical device firm specializing in the manufacture and distribution of cochlear implantable devices for hearing loss.

View full chart on Save $30 on a Pro or Premium TradingView account

Save $30 on a Pro or Premium TradingView account

Supported by

<SPON> Trade share CFDs with Plus500

Global online trading services company, Plus500:

Plus500 trading platform allows you to trade shares from all popular markets such as USA, UK, Germany and more, with leverage and low spreads. Using our advanced trading tools, you can also control your profits and losses.

Plus500AU Pty Ltd, AFSL #417727 issued by Australian Securities and Investments Commission. Based in Sydney.


Subscribe to the newsletter

Receive whispers every day in your inbox.