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

Fisher & Paykel Healthcare

24/03/2024 23:32

(Updates with Morgan Stanley note)
    ** 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
    ** Morningstar adds co's positive trading update from last
week implies customer destocking has largely settled
    ** Morgan Stanley says if destocking is less than expected,
it could pose risks for co
        ** Morgan Stanley maintains price target of A$22.19/shr
and "equal-weight" rating for ASX-listed shares of co
  
    ** One of 12 analysts rate the stock "strong buy", six
"hold" and five "sell"; their median PT is A$23.50 – LSEG data
    ** Shares of FPH were marginally down by 0.1% to NZ$26.020
    ** Stock up 10.3% this year, as of last close

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