Fisher & Paykel's strong FY23 rev due to "one-off" reasons-analysts

Fisher & Paykel Healthcare

23/01/2023 03:11

** Fisher & Paykel Healthcare's NZ-listed shares  FPH.NZ 
drop up to 4%, while  FPH.AX  ASX shares fall as much as 3.1% to
A$23.56
    ** Credit Suisse raises PT on respiratory products maker's
ASX shares to A$23.00 from A$21.50 on better-than-expected FY23
revenue forecast
    ** However, it adds rev drivers "a bit of a one-off" and
won't repeat, but could end destocking issues that hit H1
    ** Morningstar says China easing COVID curbs and more flu
cases in N.America brought forward demand sooner than expected
    ** Macquarie says FPH management did not provide NPAT
forecast due to gross profit margin uncertainty and input costs
    ** Co did not provide FY23 revenue forecast in August due to
uncertainties around inventory levels and staffing challenges
    ** Stock is among top losers on both Australia and NZ
benchmark indexes  .AXJO   .NZ50 
    ** FPH declined more than 30% in 2022
 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))