Fisher & Paykel slides after UBS downgrade
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The news: Health equipment provider Fisher & Paykel Healthcare Corporation is one of the worst performers on the ASX 200 after UBS downgraded its 12 month position from ‘buy’ to ‘neutral’.
The numbers: Fisher & Paykel was trading 3.31% lower at $32.38 at 1:29pm AEST.
The context: UBS analysts downgraded their rating on Fisher & Paykel because the share price is a fair reflection of a more limited tariff impact and likely strong earnings per share growth.
While its position is now neutral, it has raised the 12 month price target from NZD37.3 ($34.26) to NZD39 ($35.83).
The health equipment company’s FY25 revenue is also expected to be slightly above the top end of its $1.9 billion to $2 billion guidance.
The source: UBS research
