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UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on ResMed

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In a report published Monday, Jefferies & Company reiterated its Hold rating on ResMed (NYSE: RMD), and slightly raised its price target from $34.00 to $35.00.

Jefferies noted, “RMD reported mixed FQ1 results with US Masks and Intl generators missing the mark on US reimbursement nuances, competition, and F/X. Runway still looks clear for volume gains on HST and cardio adoption while further margin expansion is possible from mix and Shanghai manufacturing. However, pricing and comp bidding are still questions and valuation still a little rich. PT to $35 but rating stays at Hold.”

ResMed closed on Friday at $39.92.

Latest Ratings for RMD

Sep 2016Bank of AmericaUpgradesNeutralBuy
Sep 2016JP MorganDowngradesOverweightNeutral
Aug 2016JefferiesDowngradesHoldUnderperform

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