Carl Zeiss Meditec AG
AFX: XETR (DEU)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€44.00 | Sdwxgh | Fkbpgphnb |
Carl Zeiss Earnings: Weak China Performance Continues to Weigh Down Sales and Margin
Narrow-moat Carl Zeiss reported first-quarter earnings that came in slightly weaker than our expectations. Total sales of EUR 475 million were up 1% year over year as weak ophthalmology revenue was offset by strong microsurgery performance. After reviewing our near-term assumptions, we slightly trim our fair value estimate to EUR 82 from EUR 84.