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Investing.com - RBC Capital raised its price target on Coloplast (CSE:COLOb) A/S (CSE:COLOB) (OTC:CLPBY) to DKK710.00 from DKK700.00 while maintaining a Sector Perform rating on the stock. The Danish healthcare equipment maker, currently trading near its 52-week low of $9.16, has demonstrated remarkable dividend consistency, maintaining payments for 33 consecutive years.
The price target adjustment comes ahead of Coloplast’s Capital Markets Day scheduled for September 2, which RBC expects will provide details on the company’s mid-term top and bottom-line expectations with a focus on innovation. The company has shown solid fundamentals with a 67.5% gross profit margin and 6% revenue growth over the last twelve months. InvestingPro analysis reveals 10+ additional key insights about Coloplast’s financial health and market position.
RBC updated its forecasts following Coloplast’s Q3 results and fiscal year 2024/25 guidance, along with revised assumptions regarding the impact of reimbursement changes in the US Skin Substitutes and Chronic Care segments.
The firm sees the impact of these reimbursement changes as "fairly limited" but has reduced its revenue expectations for Coloplast by 0-3% through 2027.
Despite the price target increase, RBC maintained its Sector Perform rating on the Danish medical device company’s stock.
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