Morgan Stanley expects NZ's Fisher & Paykel to post higher earnings for HY

Fisher & Paykel Healthcare

23/11/2023 23:37

** Morgan Stanley expects Fisher & Paykel Healthcare Corp
 FPH.NZ  to post group revenue 14% higher at NZ$790 mln ($473.05
mln) for 1H of FY24
    ** Brokerage's revenue estimate is in-line with FPH's
guidance, but 1% below the consensus estimate 
    ** MS sees 1H FY24 gross margin improvement of 40bps to
59.3% for co
    ** FPH to take longer to reach long-term EBIT target margin
of 30% at around FY29 - MS
    ** MS says key focus in results will be on new app
consumables sales growth, homecare consumables growth and
margins
    ** FPH shares currently up 0.7% at NZ$22.35
    ** One of 12 analysts rate stock "strong buy", 7 "hold" and
4 "sell" or lower; their median PT is NZ$22.75 - LSEG
    ** Stock down 1.8% YTD as of last close
 


($1 = 1.6700 New Zealand dollars)

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