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Investing.com - RBC Capital downgraded Nanosonics (ASX:NAN) (OTC:NNCSF) from Sector Perform to Underperform and lowered its price target to AUD4.00 from AUD4.50.
The downgrade follows Nanosonics’ FY25 results, which exceeded both management guidance and consensus expectations, according to RBC Capital.
Despite the strong FY25 performance, the company’s initial FY26 guidance came in "significantly below consensus," RBC noted in its analysis.
The investment firm cited tariffs and ongoing expenditure to support business growth as key factors impacting the company’s forward-looking guidance.
RBC Capital justified its downgrade based on what it described as the stock’s "expensive valuation" in light of the reduced earnings outlook, prompting the firm to make "significant cuts" to its forecasts.
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