Stifel Nicolaus analyst Dylan Van Haaften maintained a Hold rating on Carl Zeiss Meditec (0DHC – Research Report) today and set a price target of €60.00.
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Dylan Van Haaften’s rating is based on a combination of factors that present both opportunities and challenges for Carl Zeiss Meditec. The company is currently navigating through a period of stabilization in China, which is still in its early stages, and this has been a significant factor in the Hold rating. The outlook for the second quarter of fiscal year 2025 appears reasonable, but there are still hurdles to overcome, particularly with the impact of tariffs and consumer trends in the Medtech sector.
Despite some positive developments, such as potential incremental contributions from new product launches like the Visumax 800/SMILE Pro, the overall guidance remains heavily reliant on the latter half of the fiscal year. The company’s EBITA margin is expected to stabilize or slightly improve, but this is contingent on moderating the deterioration in China. Given these uncertainties and the need for further clarity on China trends and tariff impacts, a Hold rating reflects a cautious approach while acknowledging the potential for future growth.
In another report released on February 18, Kepler Capital also maintained a Hold rating on the stock with a €59.00 price target.