Carl Zeiss slips after JPM places it on negative catalyst watch

Carl Zeiss Meditec AG's AFXG.DE shares slip around 2% in early Frankfurt trade

J.P.Morgan places the German optical systems maker on negative catalyst watch into Q2 results on May 14, sticking to its "underweight" rating

The broker notes the stock rising 35% YTD, adding it struggles to justify the move as the firm sits in the bottom quartile for earnings growth and upper quartile for valuation

It also highlights the firm's continued underperformance over the past two years and fears market share losses in China and the U.S.

Carl Zeiss Meditec falls to the bottom of Germany's midcaps index .MDAXI