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)
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