Proactive Investors
04 Sept 2026, 15:52 UTC · 8w ago
Smith & Nephew keeps Jefferies 'buy' despite H2 growth scepticism
Impact · against what's priced in
Smith & Nephew faces downward pressure as lowered organic growth guidance and CFO turnover undermine existing growth expectations. While activist pressure and a future clinical trial provide long-term optionality, the immediate outlook is clouded by regulatory headwinds and execution skepticism.
- SN−0.60
Challenges what's priced in
- The price assumes
The raised full-year 2026 sales growth guidance of 16%-17%
The price assumes high growth, but the company has lowered its FY2026 organic sales growth target from 6% to 4%, with the market now pricing in a further miss at 3.6%.
What SN's price assumes · Sep 2
