2321 GMT -- ResMed's bull at Citi is bracing for the possibility of a short-lived share sell-off when trial results from Eli Lilly's Orforglipron weight-loss drug are announced. Analyst Mathieu Chevrier keeps a buy rating on the breathing-tech provider, but opens a 90-day downside catalyst watch on the release of Orforglipron's phase 3 readout, which is expected some time in the June quarter. Chevrier reminds clients in a note that ResMed's share price has reacted negatively to GLP-1 news in the past, but he doesn't expect any selloff to be long-lasting. Citi has a A$44.00 target price on the stock, which is at A$34.21 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 13, 2025 19:21 ET (23:21 GMT)
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