ResMed (RMD) Stock: $244 Target And Outperform Rating

By Amit Chowdhry ● Jun 20, 2022
  • The shares of ResMed Inc. (NYSE: RMD) have received a $244 price target from RBC Capital. These are the details.

The shares of ResMed Inc. (NYSE: RMD) have received a $244 price target from RBC Capital. And RBC Capital analyst Craig Wong-Pan upgraded ResMed to an “Outperform” rating from a “Sector Perform” rating while increasing the price target from $233.

Wong-Pan adjusted the rating while noting that the stock has fallen significantly over the last 3 months due to revised sales guidance caused by raw material constraints. And Wong-Pan believes that the ResMed shares are now overly penalized, which created an attractive entry point considering its strengthening leadership position in the obstructive sleep apnea market, the earnings upside risk associated with price increases, a 10% EPS CAGR over the next 3 years, and 18% TSR implied by the price target of $244/share

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.