BofA lowered the firm’s price target on ResMed to $220 from $230 and keeps a Buy rating on the shares. Following five quarters of sequential growth, BofA expects a 2% revenue drop in fiscal Q1 compared to Q4, reflecting seasonality. The firm believes the market has oversold the shares on GLP-1 concerns, but lowers its price target as it adjusts near-term operating cost expectations higher.
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