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In a report published Friday, Morgan Stanley analyst Sean Laaman reiterated an Equal-Weight rating on
ResMedRMD, and raised the price target from $46.19 to $49.57.
In the report, Morgan Stanley noted, “Currency headwinds and part quarter release of the S10 downplayed expectations ahead of the result. Despite this, RMD beat on US revenue driven by a rapid ramp in generator sales of ~8% with gross margins in-line. We upgrade our forecasts as S10 upside and accessory flow are yet to fully emanate.”
ResMed closed on Thursday at $49.57.
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