New Zealand's Fisher & Paykel gains on Jefferies upgrade, upbeat annual results

Fisher & Paykel Healthcare

29/05/2025 01:39

Updates

** Shares of Fisher & Paykel Healthcare Corp FPH.NZ rise as much as 3.1% to NZ$36.08, their largest intraday pct gain since May 21

** Jefferies says FPH'S combination of product innovation, promotion of clinical change and continuous operational improvement continues to deliver, following its annual results

** Brokerage upgrades stock to "buy" from "hold", hikes price target to NZ$40.9 from NZ$39.4

** The medical equipment maker on Wednesday reported FY25 net income of NZ$377.2 million ($224.70 million), beating its forecast of NZ$320 million to NZ$370 million

** Jefferies says FPH successfully converted clinical change into product sales through fiscal 2025, even with a moderate flu season

** Brokerage also believes limited tariff impacts and FPH's practice of continuous process improvement should lead to increased operating leverage

** Stock down 6.8% YTD, including current session's moves

($1 = 1.6787 New Zealand dollars)

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))