ResMed price target raised to $270 from $240 at BofA

BofA raised the firm’s price target on ResMed to $270 from $240 and keeps a Buy rating on the shares. The firm is “increasingly bullish” on the obstructive sleep apnea, or OSA, penetration opportunity as it argues that awareness, a “key constraint,” has been lifted by the GLP-1 narrative and is driving more patients into the diagnosis funnel. With Respironics still absent from the U.S. device market, the firm views ResMed as best positioned to benefit from higher diagnosis rates and lifted its FY25-FY27 revenue estimates.