Coloplast down 4% as UBS sees limited upside after guidance cut
Investing.com · Navamya Acharya ·
Coloplast down 4% as UBS sees limited upside after guidance cut
Investing.com -- Coloplast (CSE:COLOb) shares fell over 4% on Friday after UBS downgraded the Danish chronic care products maker to "neutral" from "buy", saying its valuation leaves little room for further upside following cuts to its medium-term growth and margin targets.
The broker said Coloplast trades at about a 20% premium to the broader medical technology sector, a valuation it considers justified and already reflected in its price target.
The premium is only slightly below its three-year average, which UBS said was consistent with slightly lower expected growth.
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