0357 GMT - ResMed's bull at Citi thinks the market is underestimating the breath-tech provider's medium-term margin-expansion capacity. Analyst Laura Sutcliffe points out that consensus for a fiscal 2026 gross margin of 62% is in-line with guidance, but ignores management's later growth ambitions. She thinks that 63% is achievable in fiscal 2027 and beyond. A good performance through fiscal 2026 could prompt analysts to rerate the stock, she writes in a note. Citi initiates coverage of ResMed's U.S.-listed stock with a US$330.00 target price and a buy rating. It also rated ResMed's Australia-listed stock a buy, and lifts its target price 4.1% to A$51.00. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
September 18, 2025 23:57 ET (03:57 GMT)
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