Hearing aid company Cochlear has tread water for the last few years which in comparison to many of its growth peers is a great result when interest rates soared higher. We particularly liked their 1H23 result with revenue of $892m, above the $850m expected while Net Profit After Tax (NPAT) of $142m was 8% ahead of consensus, plus they rewarded shareholders with a surprise buy-back as they look to utilise cash on their balance sheet.
- We like the growth prospects for COH over the coming years plus historically the stock has been a good defensive play for nervous investors.
MM is bullish COH targeting fresh highs
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