Citi analyst Mathieu Chevrier maintained a Buy rating on Resmed Inc CHESS Depositary Interests on a ratio of 10 CDIs per ord.sh (RMD – Research Report) today and set a price target of A$44.00.
Mathieu Chevrier has given his Buy rating due to a combination of factors that suggest a positive outlook for Resmed Inc’s CHESS Depositary Interests. One of the key reasons is the expected share price return of 26.3%, which indicates a strong potential for growth. Despite the recent slower growth in app downloads compared to device sales, there is a historical correlation between these metrics that supports a positive long-term view.
Furthermore, while there is a 90-Day Downside Catalyst Watch due to potential market reactions to upcoming clinical trial results, any negative impact is anticipated to be temporary. The company’s diverse manufacturing locations, including Singapore and Australia, are also expected to play a significant role in mitigating risks associated with tariffs. These factors collectively contribute to the Buy rating, reflecting confidence in the company’s ability to navigate short-term challenges and capitalize on growth opportunities.