0633 GMT - Cochlear's bull at Jefferies slashes their target price on the hearing-implant maker's guidance downgrade while thinking market volumes can recover over the longer term. Analyst David Stanton tells clients in a note that the investment bank's channel checks suggest that health insurers in developed and developing markets are under pressure, which leads to delays in demand for implants. Stanton points out that insurers in developed markets are increasing deductibles, while many patients see implantation as a semi-elective procedure that can be delayed. Jefferies cuts its target price 52% to A$137.00 and keeps a buy rating on the stock, which closed 41% lower at A$99.58. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 22, 2026 02:33 ET (06:33 GMT)
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