Bank of America Securities analyst Lyanne Harrison has reiterated their bullish stance on RMD stock, giving a Buy rating on March 20.
Lyanne Harrison’s rating is based on a combination of factors that reflect both the challenges and opportunities facing Resmed. Despite the recent announcement of a 10% baseline tariff on products from Australia and Singapore, which is expected to negatively impact Resmed’s FY26 earnings per share by 6%, Harrison maintains a positive outlook. This is primarily due to Resmed’s strong market position in the US, where it holds a monopoly that allows it to potentially pass on increased costs to distributors.
Furthermore, Harrison highlights the growth opportunities for Resmed, particularly in new markets, which underpin the reiterated Buy rating. Although the price objective has been slightly reduced to $280 from $290 due to anticipated higher costs of goods sold, the long-term growth prospects and the company’s ability to navigate tariff challenges support the Buy recommendation. Harrison’s analysis suggests confidence in Resmed’s strategic positioning and resilience in the face of external economic pressures.
In another report released on March 20, Morgan Stanley also initiated coverage with a Buy rating on the stock with a $280.00 price target.