Fisher & Paykel Healthcare Corp Ltd
FPH: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$99.00 | Srslbvt | Lgzlbpnny |
Disappointing Homecare Growth and Outlook but Review of Systemic Risk Has Us Raise FVE to NZD 16.40
The transition of coverage to a new analyst and reduction in cost of equity following a review of narrow-moat Fisher & Paykel’s systemic risk exposure has us raising our fair value estimate to NZD 16.40 from NZD 11.00, despite weaker than expected growth reported and a subdued outlook in the homecare division. Based on an AUD/NZD exchange rate of 1.05, our fair value estimate is revised to AUD 15.60 up from AUD 10.70.