Fisher & Paykel's FY24 forecast implies a stronger second half - Morningstar

Fisher & Paykel Healthcare

29/11/2023 19:26

** Morningstar raises price target on Fisher & Paykel
Healthcare  FPH.NZ  due to time value of money 
    ** Brokerage raise PT by 2% to NZ$22.5
    ** Morningstar says FPH's HY revenue and net profit after
tax were both slightly ahead of prior guidance
    ** Co's FY24 guidance implies a stronger 2H reflective of
typical seasonality given the North American flu season -
Morningstar
    ** Brokerage upgrades FY24 NPAT forecast for FPH by 4% to
NZ$255 mln ($157.16 mln) on lower depreciation expenses and a
slightly faster gross margin recovery than expected
    ** One of 12 analysts rates stock "strong buy", 6 "hold" and
5 "sell" or lower; median PT is NZ$22.54 - LSEG
    ** Stock up 5.3% YTD, as of last close
 


($1 = 1.6226 New Zealand dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))