JPM raises Amplifon's PT in Q3 preview, shares rise
** Shares in Italy's Amplifon AMPF.MI rise 4% after J.P.Morgan raises its PT to 33.7 euros from 31.7 euros in a Q3 preview, bringing attention back to the hearing aid company trading at its lowest levels since October 2023
** Amplifon will report Q3 results on Oct. 30
** JPM says the increase is mainly due to a sector multiple expansion and sticks to its "neutral" rating on fair valuation
** It says Amplifon has attractive position in the hearing aid value chain, with exposure to a secular growth market without the risks associated with product development
** It sees "unremarkable" Q3 with largely unchanged trends from Q2, and nudges down its 2024 organic growth estimate
** Analysts' median PT on the stock is 35.75 euros
** Amplifon's shares top the pan-European STOXX 600 index .STOXX
($1 = 0.9122 euros)
Reporting by Philippe Leroy Beaulieu
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