Morningstar raises fair value estimate for NZ's Fisher & Paykel Healthcare

Fisher & Paykel Healthcare

24/03/2024 18:58

** Analysts at Morningstar raise fair value estimate for
Fisher & Paykel Healthcare  FPH.NZ  by 4% to NZ$23.50
    ** Brokerage says revision in fair value estimate due to
co's strong performance in consumable sales, among others
    ** Brokerage expects the medical equipment distributor to
return to its longterm 65% gross margin target by fiscal 2028,
from 61% in fiscal 2023
    ** Morningstar adds co's positive trading update from last
week implies customer destocking has largely settled
    ** One of 12 analysts rate the stock "strong buy", six
"hold" and five "sell"; their median PT is A$23.50 – LSEG data
    ** Stock up 10.3% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))