ResMed price target raised to $247 from $238 at RBC Capital

RBC Capital raised the firm’s price target on ResMed (RMD) to $247 from $238 and keeps a Sector Perform rating on the shares. The company reported a solid Q2 result with double-digit revenue growth in the sleep segments and strong double-digit EBIT and EPS growth, and while gross margin and SaaS growth were slightly below market expectations, these are “small detractors” from an otherwise solid result, the analyst tells investors in a research note.