ResMed price target lowered to $120 from $124 at BMO Capital

ResMed price target lowered to $120 from $124 at BMO Capital. BMO Capital analyst Joanne lowered her price target on ResMed to $120 after its lower than expected reported Q2 revenues and a 17% decline in its stock price late last week. The analyst believes that this is the time to step back into the stock however, keeping her Outperform rating while noting that double-digit declines for the shares are rare and should be followed by a recovery. Wuensh is positive on the company’s ability to leverage its “respiratory devices to provide cloud-connected medical data and solutions to patients and physicians.”
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