Fisher & Paykel rises as analysts raise PT on strong outlook

Fisher & Paykel Healthcare

30/11/2023 01:16

(Adds comments from Macquarie and share moves)
    ** Shares of Fisher & Paykel Healthcare  FPH.NZ  up 0.6% at
NZ$23.94
    ** Morningstar raises price target on FPH stock by 2% to
NZ$22.5, Macquarie hikes by 4% to NZ$24.4
    ** Macquarie sees a lack of valuation appeal at current
levels, while the medium-longer term outlook remains favourable
    ** Morningstar says FPH's HY revenue and net profit after
tax were both slightly ahead of prior outlook
    ** Co's FY24 outlook implies a stronger 2H reflective of
typical seasonality given the North American flu season -
Morningstar
    ** Morningstar 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;))