Ahead of ResMed’s Sep Q results, the broker has made adjustments for forex and tax assumptions, leading to modest earnings downgrades. Target unchanged at US$140 (A$20.75 at current spot).
With US durable medical equipment providers embracing sleep therapies as a key driver, the broker believes growth in sleep products will remain robust for some time, and ResMed has achieved a market-leading position. Buy retained.
Sector: Health Care Equipment & Services.
Current Price is $19.29. Target price not assessed.
