Jumbo (ASX:JIN) share price rises to reach new 52-week record fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.
Morgans have retained their
add rating but trimmed their price target on this medical device company’s shares to $29.14. This follows the release of a third quarter result last week which the broker felt was mixed. However, Morgans believes the headwinds the company is facing are cyclical and not structural. As a result, it believes the future remains positive for ResMed. Particularly given the upcoming launch of the next generation sleep apnoea platform, AirSense 11. The ResMed share price is fetching $25.06 on Monday morning.
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Goldman Sachs thinks you should buy the dip for these 2 ASX shares
Kerry Sun | February 25, 2021 9:53am |
More on: Image source: Getty Images
For these 2 ASX shares, a reasonable interim result failed to translate into share price gains. After running the ruler for its results,
Goldman Sachs thinks the market has got it wrong and reiterates its buy rating and higher target prices.
2 ASX shares that dipped on earnings
On Tuesday, Jumbo reported a 9% increase in revenue to $40.9 million while underlying NPAT growth was flat at $14 million. Net profit figures came in slightly above Goldman’s estimates of $13.7 million. Despite a fair result, the Jumbo share price slumped more than 7% on Tuesday and struggled to bounce higher on Wednesday.