Jefferies upgrades NZ's Fisher & Paykel Healthcare to 'buy'

Analysts at Jefferies see New Zealand's Fisher & Paykel Healthcare FPH.NZ mitigating impact of 25% U.S. tariffs on Mexican imports

Brokerage upgrades the medical equipment maker to "buy" from "hold", raises price target to NZ$39.40 from NZ$35.25

"FPH's New Zealand-manufactured products already FDA approved, the option to substitute Mexican with NZ imports is only limited by re-routing and freight lead times," Jefferies says

Adds that FPH's three months of inventory available in the U.S. and potential to increase prices will help further moderate the impact of tariffs in FY26

Two of 12 analysts rate the stock "buy", seven "hold" and three "sell" or lower; their median PT is NZ$37.00 – LSEG data

Stock closed at NZ$34.5 on Tuesday, down 10.2% YTD