Shares of Swiss dental-technology group Straumann Holding AG fell 2.92% to CHF93.22 on Friday after Deutsche Bank downgraded its rating and reduced its price target, citing valuation and leadership risks.
Deutsche Bank analyst Falko Friedrichs downgraded Straumann from buy to hold while cutting the price target to CHF99 from CHF119, a 17% reduction. The move follows an unexpected CEO transition shortly after the company unveiled its medium-term strategy, adding uncertainty around execution.
The bank also highlighted broader macroeconomic headwinds, including persistently high inflation and the potential for further interest-rate increases that could dampen customer demand. Additionally, Deutsche Bank warned of a possible slowdown in China ahead of the next volume-based procurement round, which may weigh on growth prospects.
Straumann’s shares trade at roughly 26 times projected 2027 earnings, a valuation Deutsche Bank described as leaving little room for disappointment. The broader Swiss market underperformed, with the SMI down about 0.3% on the session.
