ResMed price target raised to $260 from $252 at Piper Sandler

Piper Sandler analyst Adam Maeder raised the firm’s price target on ResMed (RMD) to $260 from $252 and keeps a Neutral rating on the shares. The firm notes ResMed reported Q2 results that topped consensus estimates on the top and bottom-line. Piper acknowledges this was a solid quarter turned in by ResMed, but says it continues to take a wait-and-see approach at these valuation levels.