Carl Zeiss Meditec AG: RBC Capital Markets Now Neutral
Analyst Downgrades To Neutral
Analyst Mark Massaro with RBC Capital Markets downgraded Carl Zeiss Meditec AG ( ZZE.DE ) from Outperform to Neutral. The price target was lowered to €130 from €140.
Why Neutral?
Massaro said the downgrade was due to several factors, including:
- A more challenging market environment for medical technology companies.
- The company's exposure to the Chinese market, which is facing a number of headwinds.
- Concerns about the company's ability to maintain its margins in the face of rising costs.
Analyst Opinion
Despite the downgrade, Massaro said he still believes Carl Zeiss Meditec AG is a "well-positioned company with a strong product portfolio." He said the company's long-term growth prospects remain intact, but he believes the near-term challenges will weigh on the stock.
Company Response
Carl Zeiss Meditec AG has not yet commented on the downgrade.
Stock Performance
Shares of Carl Zeiss Meditec AG have declined about 20% since the beginning of the year. The stock closed at €95.50 on Friday, August 12, 2023.
Disclaimer
The information contained in this article is for informational purposes only and should not be construed as investment advice. Please consult with a financial advisor before making any investment decisions.
