ResMed (RMD) PT Lowered to $286 at Morgan Stanley

Morgan Stanley analyst David Bailey lowered the price target on ResMed (NYSE: RMD) to $286.00 (from $310.00) while maintaining a Overweight rating.

The analyst comments "Retain OW: We see the current share price as reflecting bear-case assumptions within our Philips scenario analysis (Philips re-enters the US device market in 2026, with a price discount and increased SG&A expenses for RMD; 18.5x 12-month forward EPS). With physician feedback suggesting a favourable near-term outlook, valuation appeal and solid balance sheet position, we retain OW."

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