Sonova hits over 2-year high after reports it will restart supplies to Costco
** Shares in Swiss hearing aid maker Sonova SOON.S jump 5.2%, trading at their highest levels in over two years, with J.P.Morgan citing reports that it will be back as a supplier for Costco COST.O
** Reports on Friday said Sonova is expected to replace Rexton as a supplier for Costco, after its previous agreement with the retailer was discontinued in 2022, JPM says
** Sonova will offer prescription hearing aid Sennheiser Sonite R in 107 locations in the U.S., with a gradual ramp up expected to follow, a Reuters source said on Monday
** The source added it is logical for Costco to work in this way, by testing the product with a number of warehouses before rolling it out further
** Spokespersons for Costco and Sennheiser Consumer business, a Sonova division, could not be immediately reached for a comment
** JPM says this is a positive surprise, as Sonova and other hearing aid management teams have previously downplayed the possibility of a near-term return to Costco
** The stock tops the Swiss blue chip index .SSMI and the pan-European STOXX 600 .STOXX
Reporting by Elizaveta Gladun
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