Wednesday May 7, 11:09 AM
Broker snap: Smith and Nephew seen facing tough year
LONDON (ShareCast) - Goldman Sachs (NYSE: GS - news) has downgraded its rating on Smith and Nephew to 'sell' from 'neutral'
and cut its price target to 530p from 710p, saying it expects the medical devices firm's earnings shortfall to accelerate over the rest of 2008.Pressure will come from slower sales growth of trauma and hip treatments and from launch costs for wound therapy, the broker said.
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