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UPDATE: Morgan Stanley Reiterates On ResMed Following 1Q15 Earnings Report

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Courtesy of Benzinga.

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In a report published Friday, Morgan Stanley analyst Sean Laaman reiterated an Equal-Weight rating on ResMed (NYSE: RMD), and raised the price target from $46.19 to $49.57.

In the report, Morgan Stanley noted, “Currency headwinds and part quarter release of the S10 downplayed expectations ahead of the result. Despite this, RMD beat on US revenue driven by a rapid ramp in generator sales of ~8% with gross margins in-line. We upgrade our forecasts as S10 upside and accessory flow are yet to fully emanate.”

ResMed closed on Thursday at $49.57.

Latest Ratings for RMD

Date Firm Action From To
Oct 2014 Morgan Stanley Maintains Equal-weight
Aug 2014 Jefferies Maintains Hold
Jul 2014 Deutsche Bank Downgrades Buy Hold

View More Analyst Ratings for RMD
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Sean LaamanAnalyst Color Price Target Analyst Ratings

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