Report
Chris Kallos, CFA
EUR 101.80 For Business Accounts Only

Cochlear is a global leader in the design and production of hearing implants.

We raise our fair value estimate to AUD 148 per share for wide-moat Cochlear largely due to time value of money considerations. We remain positive on the company’s prospects in the cochlear implant market given its innovative leadership position, clinical reputation and strong product portfolio. We also believe low penetration of the addressable market provides a long-term runway and consider recent engagement initiatives targeting older adult segments in developed markets as significant changes...
Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Chris Kallos, CFA

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