COH has performed strongly through 2023 and even after it slipped back under $240 it’s up over +16% year to date. We liked the hearing aid operators’ 1H23 result with revenue of $892m beating expectations while Net Profit After Tax (NPAT) of $142m was 8% ahead of consensus, plus they rewarded loyal shareholders with a supportive buy-back as they deploy cash on their balance sheet.
- We are neutral COH here, however, would get interested on a move back towards $220.
MM likes COH into further weakness
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