Carl Zeiss Meditec AG
AFX: XETR (DEU)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€33.00 | Lqtfggz | Vmsmbyvz |
Carl Zeiss Earnings: Margin Headwinds From Weak China Sales Continue to Pose Near-Term Challenges
Narrow-moat Carl Zeiss reported fourth-quarter earnings slightly below our expectations. Total sales were up 1.7% year over year as strong performance from microsurgery segment offset weak ophthalmology results. After rolling our model and accounting for near-term pressures, we lowered our fair value estimate to EUR 84 from EUR 87 per share.