Bullish indicating open at $55-$60, IPO prices at $37
Investing.com - Deutsche Bank (ETR:DBKGn) has lowered its price target on Carl Zeiss Meditec AG (ETR:AFX) (OTC:CZMWY) to EUR45.00 from EUR55.00 while maintaining a Hold rating on the stock.
The German investment bank cited uncertainty about demand recovery for refractive laser procedures in China, particularly noting the subdued start to the important summer season.
Carl Zeiss Meditec’s management indicated that margin expansion is now expected at the lower end of this year’s guidance range, according to Deutsche Bank’s analysis.
The company has also hinted at continued margin headwinds for the next fiscal year, suggesting potential expansion but likely "much less than initially assumed," Deutsche Bank noted.
Deutsche Bank analyst Falko Friedrichs expressed concerns about whether consensus earnings estimates for the medical technology company have been properly adjusted or may need further downward revisions.
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