0013 GMT - Cochlear's earnings outlook continues to moderate due to the ongoing decline in U.S. consumer sentiment, according to a note from one of Macquarie's analysts. The analyst observes that sentiment has got even worse since the Australia-listed hearing-implant maker downgraded its FY 2026 guidance in April. They tell clients that consumer pressures remain centered on cost-of-living and inflation pressures, which erodes their confidence in implant demand. They reduce their FY 2026 underlying net profit forecast by about 3% to A$306 million, with similar cuts over the next two fiscal years. Macquarie keeps a neutral rating on the stock but raises its target price 3.5% to 119.00 Australian dollars on an updated weighted risk-free rate. Shares are down 0.9% at A$120.04. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

June 29, 2026 20:13 ET (00:13 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.