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Sonova downgraded to Underperform from Buy at Jefferies

Jefferies analyst Michael Toomey double downgraded Sonova to Underperform from Buy with a price target of CHF 200, down from CHF 340. Consensus expectations are not accounting for loss of the Costco KS contract and "muted" market growth in the second half of fiscal 2023 and 2024, the analyst tells investors in a research note.

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