Fisher & Paykel shares rise on analyst backing
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The news: Health equipment manufacturer Fisher & Paykel's share price lifted after stock rating upgrades from analysts at Citi and Morgan Stanley, even after it recently announced lower-than-expected guidance for the 2026 fiscal year.
The numbers: Shares finished 2.7% higher at $34.84, higher than their level prior to the announcement of the company's FY25 results and FY26 guidance last week.
The context: Morgan Stanley analyst upgraded the stock from equal-weight to overweight and lifted its price target from NZD36.7 ($34.1) to NZD38.9. The analysts expect revenue growth will be supported by new equipment applications in the medium to longer term
Meanwhile, Citi analysts upgraded the stock from sell to neutral and lifted their price target from NZD32 to NZD35.5. This was predominantly driven by a lower impact from US tariffs than previously feared.
The sources: ASX, Morgan Stanley research, Citi research
