Jefferies downgrades rating, cuts earnings view on Australia's ALS

ALS

21/05/2024 22:05

** Analysts at Jefferies downgrade Australia's ALS  ALQ.AX 
to "hold" from "buy", maintains PT of A$13.20
    ** Brokerage adjusts EPS estimate for the professional
technical service provider - lowers FY25 by 4% but raises FY26
by 2%
    ** Says adjustments take into account the costs and benefits
associated to the Nuvisan transformation program
    ** Adds ALS delivered at the midpoint of guidance at
full-year net income of A$317 mln ($211.3 mln) 
    ** 7 of 10 analysts rate the stock "buy" or higher, 2 "hold"
and 1 "sell" or lower; their median PT is A$13.55 – LSEG data
    ** Stock has risen 12.7% YTD, as of last close


($1 = 1.5004 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))