Broker Recommendations

Jefferies cuts Smith & Nephew target but stays optimistic

By Benjamin Chiou

Date: Monday 04 Nov 2024

(Sharecast News) - Jefferies has slashed its target price for medical devices maker Smith & Nephew from 1,400p to 1,250p after challenges in China weighed heavily on third-quarter results.

Nevertheless, the broker kept a 'buy' rating on the stock, saying that the shares' valuation is undemanding by historical standards.

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