Australia's ALS down after Macquarie cuts TP on weak FY forecast

ALS

26/03/2024 24:33

** Shares of Australia's ALS Ltd  ALQ.AX  fall as much as
3.8% to A$12.58, their lowest since March 6
    ** Analysts at Macquarie trim target price for testing
services provider ALS to A$13.90 from A$14.25
    ** Brokerage says new TP reflects co's lower FY24 earnings
forecast
    ** Brokerage forecasts FY26 EBITDA of 26 mln euros and FY27
EBITDA of 33 mln euros for Nuvisan, co's recent acquisition,
compared to original EBITDA of 40 mln euros in FY21
    ** Eight of 10 analysts rate the stock "buy" or higher, one
"hold" and one "sell"; their median PT is A$13.20 – LSEG data
    ** Co to report FY24 results on May 21
    ** Stock had risen 1.7% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))