Investing.com -- Goldman Sachs initiated coverage on ResMed Inc (NYSE:RMD) with a "Buy" rating and a price target of A$48.9, driven by strong growth prospects in its continuous airway pressure (CPAP) therapy segment.
Key drivers include rising awareness of obstructive sleep apnea (OSA), market share gains in OSA masks, and operating margin expansion through cost management and product mix. Goldman forecasts mask revenue growth exceeding consensus by 2.4%-10.7% for fiscal 2025-27.
The note highlights ResMed's ongoing innovation, with new mask and accessory launches expected in late 2024, and predicts the company could achieve the upper end of its fiscal 2030 revenue growth target.
Goldman believes CPAP therapy will coexist with GLP-1 drugs for OSA treatment, supported by clinical data and insurance policies. ResMed's app engagement also indicates strong therapy compliance.
The 12-month price target reflects a 30% upside, based on a blend of discounted cash flow and EV/EBIT multiples.
Related Articles
Goldman Sachs starts coverage on ResMed with "buy" rating
Building permits, housing starts data due Friday
State Street, Schlumberger, Regions lead Friday earnings lineup
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。