Market Overview

UPDATE: Bank of America Upgrades ResMed on Multiple Positive Factors

Related RMD
20 Biggest Mid-Day Gainers For Tuesday
Benzinga's Top Upgrades, Downgrades For January 24, 2017

In a report published Monday, Bank of America analyst Matthew Prior upgraded the rating on ResMed (NYSE: RMD) from Neutral to Buy, and raised the price target from $5.07 to $5.65.

In the report, Bank of America noted, “We upgrade RMD to Buy with expectation of a near term new Flow Generator (FG) release and greater confidence on Gross Margin expansion from FG mix. Whilst we expect 1Q14 will reveal weaker US FG growth (MLe +6%), a key metric for the high levels of short interest, we predict: 1) a new FG product launch, 2) strong ROW FG growth (from SG&A reallocation), and 3) a higher Gross Margin (VPAP/ Bi-Level now >25% of sales) will be enough to get the stock through this key 1Q juncture.”

ResMed closed on Friday at $49.18.

Latest Ratings for RMD

Jan 2017JP MorganUpgradesNeutralOverweight
Sep 2016Bank of AmericaUpgradesNeutralBuy
Sep 2016JP MorganDowngradesOverweightNeutral

View More Analyst Ratings for RMD
View the Latest Analyst Ratings

Posted-In: Bank of America Matthew PriorAnalyst Color Upgrades Analyst Ratings


Related Articles (RMD)

View Comments and Join the Discussion!