UPDATE: Jefferies Reiterates Hold Rating, Raises PT on ResMed
In a report published Friday, Jefferies reiterated its Hold rating on ResMed (NYSE: RMD), and raised its price target from $35.00 to $42.00.
Jefferies noted, “RMD reported strong FQ2 results with revs and EPS beating by $13mm and $0.02. The upside was across the board, albeit off favorable year ago comps. Although we have clearly missed the ride, the tailwinds of HST & cardio adoption coupled with margin benefits from mix and Shanghai manufacturing are still blowing. That said, the stock is fully valued and Round II implementation in the US remains a hard to handicap risk keeping us at Hold.”
ResMed closed on Thursday at $45.47.
Latest Ratings for RMD
|Jul 2014||Deutsche Bank||Downgrades||Buy||Hold|
|Jun 2014||JP Morgan||Upgrades||Neutral||Overweight|
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