Cautious Outlook on Cochlear: Sell Rating Due to FY26 NPAT Reliance and Nexa Implant Uncertainty
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David Bailey has issued a Sell rating on Cochlear due to concerns over its FY26 net profit after tax (NPAT) guidance, which heavily relies on the anticipated launch of the Nexa implant. Uncertainty regarding the implant's market uptake and Morgan Stanley's forecasts indicating potential underperformance in NPAT compared to expectations raise doubts about Cochlear's ability to meet full-year guidance. Bailey, a 4-star analyst, focuses on the Healthcare sector and has an average return of 13.9% with a 46.97% success rate.
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