Further upside potential for ResMed: RBS Morgans

RBS Morgans upgrades ResMed, taking into account greater benefits from Australian dollar tailwinds and skilled management.

ResMed (RMD) shares have more room for gains despite their recent run-up over the past month as the company's earnings strengthen and the Australian dollar provides greater tailwinds, according to RBS Morgans.

The broker upgraded the medical device maker's stock to "outperform" from "neutral", seeing a nearly 10% upside with a target price of $5.97.

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