RBC Capital downgraded Fisher & Paykel Healthcare to Underperform from Sector Perform with a price target of NZ$29, down from NZ$30. The downgrade follows the company’s FY25 results, which exceeded both RBC and consensus expectations, but showed a “significant slowdown” in revenue growth of hospital new application consumables and homecare consumables. The firm cited the stock’s “expensive valuation relative to its earnings outlook” for the downgrade.
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