Jefferies maintains rating, PT on Australia's ALS Ltd ahead of FY results

ALS

22/05/2025 23:02

** Jefferies analysts maintain "buy" rating on Australia's ALS Ltd ALQ.AX at a price target of A$18.80 per share

** The testing services provider will report its FY25 results on May 27

** According to Jefferies, ALQ's biggest delta, minerals, has had a negative sample volume growth, which has been a drag for the company in most of FY24 and FY25

** At the April 28 trading update, we got confirmation that this has flipped to being a positive driver — Jefferies

** Brokerage says there should be few surprises in the FY results; sees promising signs for medium-term growth

** Stock has risen 17.6% this year, as of last close

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))