Oppenheimer lowered the firm’s price target on ResMed to $175 from $275 and keeps an Outperform rating on the shares. The firm cites two competing influences. While its Outperform rating remains given current competitive dynamics, its price target reduction is an acknowledgment that GLP-1s impact on OSA will be real, and multiple expansion, relatively speaking, will be a grind. Oppenheimer is also lowering its FY25 outlook preemptively to factor in GLP-1 impacts.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on RMD:
- Target upgraded, Beyond Meat downgraded: Wall Street’s top analyst calls
- RBC downgrades ResMed to Sector Perform amid GLP-1 drug fears
- ResMed downgraded to Sector Perform from Outperform at RBC Capital
- ResMed upgraded to Overweight from Neutral at JPMorgan
- ResMed to Report First Quarter Fiscal 2024 Earnings on October 26, 2023