Macquarie suspects there will be no endgame for covid-19, rather it will circulate akin to seasonal influenza.
The broker includes a proprietary US hospital stress test metric which suggests stress in the US hospital system is still meaningful at 86% of the peak achieved in December-January 2021.
Hence, the broker envisages modest upside risk to current hospital revenue. The stock is still considered expensive and a Neutral rating is maintained. Target is raised to NZ$32.30 from NZ$31.84.
Sector: Health Care Equipment & Services.
Current Price is $29.96. Target price not assessed.
