ResMed price target raised to $224 from $206 at RBC Capital

RBC Capital raised the firm’s price target on ResMed to $224 from $206 and keeps a Sector Perform rating on the shares. The company’s investor day presentation outlined a better than expected revenue and earnings outlook to 2030 supported by AI/ML, demand generation initiatives, higher resupply rates and expansion into new markets, the analyst tells investors in a research note. RBC adds that it continues to expect the return of Philips to limit RedMed’s revenue growth, though the firm has also have tempered its assumptions.