2337 GMT - Breathing device maker Fisher & Paykel Healthcare's shares rise 2.5% to claw back some of Monday's steep fall, helped by President Trump agreeing to a monthlong delay to a levy on imports from Mexico. In a note, analyst Matt Montgomerie thinks the tariff threat shouldn't have a material impact on F&P Healthcare's valuation at this stage because the tariffs may ultimately be reversed or revised. Also, F&P Healthcare can shift production back to New Zealand and use Mexico as a hub for other markets. "The latter would take time to implement, but over the long term there shouldn't be a material change in F&P Healthcare's gross margin outlook," Forsyth Barr says. "This is confirmed by F&P Healthcare still expecting to reach its 65% target, albeit two to three years later than its original FY 2027/FY 2028 expectations." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 03, 2025 18:37 ET (23:37 GMT)
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