ResMed reports its March quarter results on May 1. Credit Suisse expects third-quarter revenue growth of 6%.
The pandemic is expected to have a minor impact on the quarter, with significant disruption only occurring in the last two weeks and strong trends in January and February.
The broker forecasts 10% US mask growth and 3% US device growth. Neutral rating maintained. Target is raised to $25.50 from $25.10.
Sector: Health Care Equipment & Services.
Target price is $25.50.Current Price is $24.89. Difference: $0.61 – (brackets indicate current price is over target). If RMD meets the Credit Suisse target it will return approximately 2% (excluding dividends, fees and charges – negative figures indicate an expected loss).
