Deutsche Bank Downgrades Smith & Nephew (SNN) to Hold; 2012 Outlook: A More Challenging Year

January 9, 2012 9:40 AM EST
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Price: $26.09 +0.93%

Rating Summary:
    9 Buy, 13 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 13 | New: 8
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Deutsche Bank downgraded Smith & Nephew (NYSE: SNN) from Buy to Hold. PT lowered from 680p to 646p.

Deutsche analyst says, "We still believe management can re-position S&N in 2012-16E to create more value & to deliver more growth in the mid- to long term. However, we have become more cautious about S&N's near term outlook. In addition to macro-related drags in 2012E, we forecast Ortho to lose its recent outperformance as its peers benefit from stronger new product momentum; while we project Endo & Wound to gain more market share. We have cut our 2012-15E EPS by 3-10% & believe that after a good rally, shares in S&N are close to fair value for now."

For an analyst ratings summary and ratings history on Smith & Nephew click here. For more ratings news on Smith & Nephew click here.

Shares of Smith & Nephew closed at $46.86 yesterday.

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