Wolfe Research downgraded ResMed to Peer Perform from Outperform without a price target. Wolfe’s sleep doctor survey suggests mid-term risks from GLP1s and a potential Philips re-entry, the analyst tells investors in a research note. The firm says GLP1s and Philips are headwinds for ResMed in 2024 through 2026. The firm has a $140-$160 fair value range for the shares.
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