05:47 AM EST, 11/12/2026 (MT Newswires) -- RBC Capital Markets on Thursday revised its price target and forecasts for Smith & Nephew plc (SN.L) amid a model update that took into account the company's third-quarter results and reduced full-year 2026 guidance. The London-listed medical technology group lowered its underlying revenue growth guidance to around 3%. It started the year with a 6% growth outlook, which was lowered to 4% in August. As such, RBC cut the sector perform-rated stock's price target to 11.50 pounds sterling from 12.50 pounds. Underlying revenue growth estimates for 2026 through 2029 were also downwardly revised, alongside lower core EPS projections. "[The LANDMARK cementless system] has launched, but commercial traction remains to be demonstrated, with the cemented version expected only in Q2 2027. China [volume-based procurement] uncertainty persists within Sports Med, while the skin-substitute market is adapting more slowly than anticipated," analysts said. "That said, there are plenty of segments performing strongly, and the company's strategic review on its ortho business does imply that it is serious about improving shareholder value. We remain on the sidelines and await a (hopefully conservative) 2027 guide to revisit the thesis."

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