PolyNovo Keeps Bull Despite Sales Slowdown -- Market Talk

0501 GMT - PolyNovo keeps its bulls at Morgans despite the medical-device maker's 2H revenue slowdown. Maintaining a buy rating on the stock, the Australian broker's analysts tell clients in a note that, while sales disappointed, cash generation is strong. They think this indicates the wound-treatment specialist is in a good position to deliver material Ebitda growth in each of its next two fiscal years. Morgans analysts say they remain confident that revenue growth can return above-20% levels in fiscal 2027, pointing out that 15.5% U.S. sales growth in fiscal 2026 was said by management to reflect some seasonality and shifts in insurance reimbursements. Morgans cuts its target price by 5.1% to 1.48 Australian dollars. Shares are down 3.4% at A$0.85. (stuart.condie@wsj.com)

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July 30, 2026 01:01 ET (05:01 GMT)