Analyst Dylan Van Haaften of Stifel Nicolaus maintained a Hold rating on Carl Zeiss Meditec (0DHC – Research Report), retaining the price target of €60.00.
Dylan Van Haaften’s rating is based on a combination of factors influencing Carl Zeiss Meditec’s stock performance. The company reported preliminary second-quarter figures that exceeded expectations, particularly in terms of revenue and EBITA, driven by strong demand in China. However, despite these positive results, the guidance for “moderate revenue growth” and “stable to slightly higher EBITA” suggests caution due to potential impacts from tariffs and foreign exchange fluctuations.
While the current fiscal year appears to be on a stable path, there are uncertainties regarding growth and operating leverage in the upcoming fiscal year 2026. Concerns about the equipment and hardware market, foreign exchange conservatism, and tariff exposure could pose challenges. Additionally, the potential impact of summer season trends and consumer confidence adds to the cautious outlook. These factors contribute to the decision to maintain a Hold rating, as further evidence of recovery and growth is desired before considering an upgrade.
In another report released yesterday, RBC Capital also maintained a Hold rating on the stock with a €55.00 price target.