UBS starts Elekta at "sell" on slowing market and "mounting topline challenge"

** UBS initiates Swedish radiotherapy devices manufacturer Elekta EKTA_B at "sell", citing a slowing market and mounting topline challenges

** Brokerage forecasts market growth of 3-4%, half of management's expectations, due to volume headwinds in developed markets and rising local competition elsewhere

** Broker is cautious on the new Evo platform's ability to regain share, questioning the relevance of its key adaptive radiotherapy feature outside of European markets

** UBS thinks the consensus earnings of 9%-19% are too high, adding Elekta lost a third of its share over the last decade due to faster R&D cycle at peer Varian

** Out of the 15 analysts covering the stock, three rate it "buy", six "hold", and six "sell" or "strong sell", based on LSEG data