2309 GMT - ResMed gets a new bull at Citi, where analyst Mathieu Chevrier points to the breathing-tech maker's strong EPS growth, free cash-flow and balance sheet. Raising his recommendation on ResMed's Australia-listed stock to buy from neutral, Chevrier values the company at 24 times projected fiscal 2026 earnings, in line with its pre-Covid average. Its current valuation of 22 times fiscal 2026 earnings therefore looks reasonable, he writes in a note. He points out that ResMed has seen little impact from the roll-out of new weight-loss drugs, and sees risks associated with such treatments being continuously pushed back. Citi lifts its target price 7.3% to A$44.00. Shares are at A$36.92 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 05, 2025 18:09 ET (23:09 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.