Citi upgraded ResMed (RMD) to Buy from Neutral with a price target of A$44, up from A$41. The firm likes the stock’s “reasonable valuation, “strong” earnings through 2027 and cash flow generation. Thus far, weight loss drug have not had an impact on ResMed’s business given its very recent approvals, and the company expects its sponsors to ramp up promotional activity in the second half of 2025, the analyst tells investors in a research note. Citi sees the risk being continuously pushed out further into the future.
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