Australia's ALS FY earnings fails to impress analyst; Jefferies slashes PT

ALS

29/05/2023 21:52

** Jefferies sees uncertainty over how ALQ  ALQ.AX  can turn
around Nuvisan as well as other acquisitions, which are weighing
down margins
    ** Brokerage cut PT to A$12.8 from A$13.5, maintains rating
at 'hold'
    ** Australian testing services provider on Monday posted a
53% jump in FY23 profit attributable 
    ** Remain on the sidelines given the threat operating
leverage presents to estimates - Jefferies
    ** Jefferies lowers FY24 NPAT core by 5.6% to A$305 mln 
    ** Jefferies sees a 20% fall for FY24 volumes in
Geochemistry 
    ** Six of 11 analysts rate the stock "buy" or higher, five
"hold"; their median PT is A$13.1– Refinitiv Eikon data 
    ** YTD stock has fallen nearly 4%     


 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))