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Investing.com - Goldman Sachs downgraded Straumann Holding AG (SWX:STMN) from Buy to Neutral and reduced its price target to CHF100.00 from CHF135.00 ahead of the company’s upcoming third-quarter results.
The investment bank cited expectations for a shallower recovery in the U.S. market and a slowdown in Asia-Pacific due to pricing headwinds from volume-based procurement (VBP) as key factors behind the rating change.
Goldman Sachs also lowered its outlook for margin expansion in fiscal year 2026, anticipating headwinds from transactional foreign exchange, tariffs, and VBP price cuts, resulting in core EBIT estimate reductions of 2-7%.
The firm now forecasts Straumann’s organic growth to decelerate in the third quarter as momentum in Asia-Pacific slows prior to VBP implementation, while expecting modest improvement in North America, partly helped by easier comparisons.
Goldman Sachs projects 7.8% organic growth for Straumann in the third quarter, compared to the 8.2% consensus estimate, with the dental solutions company scheduled to report its Q3 results on October 29, followed by a Capital Markets Day on November 24-25.
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