Morgan Stanley upgrades hearing aid maker Demant, cuts peer Sonova
** Morgan Stanley upgrades hearing aid maker Demant DEMANT.CO to "overweight" from "underweight", while downgrading its peer Sonova SOON.S to "underweight" from "equal-weight"
** Sees an attractive entry point for Demant, citing de-risked estimates after the profit warning and guidance cut in July, with valuation at multi-year lows
** The broker expects Demant's growth to accelerate into 2025; scope to improve margins after Demant announced planned sale of the loss-making communications business
** Flags Sonova's EV/EBITA valuation compared to Demant and hearing aid peers has hit an all time high
** Mean target price for Demant at DKK 306.38, Sonova at CHF 279.81as per LSEG
Reporting by Marta Frąckowiak, Anastasiia Kozlova and Amir Orusov
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