ResMed price target raised to $198 from $195 at JPMorgan

JPMorgan raised the firm’s price target on ResMed to $198 from $195 and keeps an Overweight rating on the shares. The company’s Q2 revenue exceeded forecasts but showed sales growth is moderating after the extraordinary growth through recent years, the analyst tells investors in a research note. The firm believes this is the start of a medium-term trend as ResMed’s gross margins trend back to historical levels and the restructuring program supports an extended period of operating leverage.