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Fisher & Paykel Navigates Increased Geopolitical Volatility while Managing Business for Long-Term, Jefferies Says

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Fisher & Paykel Healthcare (ASX:FPH, NZE:FPH) is navigating heightened geopolitical volatility whilst managing the business for the long-term, according to Jefferies in a note on Wednesday.

For fiscal year 2026, it is guiding to revenue of around NZ$2.3 bllion, compared with Jefferies' estimate and consensus estimate of NZ$2.3 billion, as well as to underlying profit after tax of around NZ$450 million to NZ$470 million, compared with Jefferies' estimate of NZ$459 million and consensus estimate of NZ$468 million.

Jefferies said it hopes hedging means there is limited impact from foreign exchange on fiscal year 2026 profit, and it will look for insights on the hedging profile and exchange rate effects into fiscal year 2027.

It attributed nine months of fiscal year 2026 margin improvement to continuous improvement initiatives as well as progress influencing clinical change.

The investment firm has a buy rating on Fisher & Paykel while cutting its price target to NZ$41 per share from NZ$47 per share, and to AU$33.50 per share from AU$39.65 per share.

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