Well the bulls and forever bullish analysts might say that the downgrade is related to patients waiting for the new product. I get the idea - why get an old implant when whizz bang new product is merely months away.
But I would think COH understands these effects and it should be baked into the prior guidance anyway. For the multiple it trades on it does seem a bit perplexing to me that buyers were so keen to revv this back up this morning. But alas, one morning reaction does not tell the full story.
COH Price at posting:
$272.52 Sentiment: None Disclosure: Not Held
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