STOCKS NEWS EUROPE-Nobel Biocare drops on cautious outlook
Shares in Nobel Biocare (Other OTC: NBHGF - news) fall more than 6 percent after the Swiss dental implant maker posts fourth-quarter results that fall short of expectations and disappoint investors with a cautious guidance for full-year profitability.
"Its outlook for 2014 sales growth is as expected, but should be met with disappointment with regard to its guidance for margin development," writes ZKB analyst Sybille Bischofberger, who rates the stock as 'underweight.'
"The dental implant market is only recovering slowly and remains difficult," she says.
The company expects to improve its earnings before interest and tax (EBIT) margin by about 1 percentage point, below consensus forecasts.
Nobel Biocare is the worst performer on the Swiss mid cap index.
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