Jefferies downgrades Healius on subdued healthcare services environment

Healius

20/11/2023 19:26

** Jefferies cuts PT on Australia-based healthcare firm
Healius  HLS.AX  to A$1.20 from A$2.40; downgrades to
"underperform" from "hold"
    ** HLS expects EBIT of A$14 mln ($9.11 mln) - A$17 mln for
H1 FY24 and EBIT of A$80 mln - A$90 mln for H2 FY24
    ** Brokerage says it is hard to see this level of profit
turnaround in a subdued environment for Australian healthcare
services, even with a flagged H2 FY24 EBIT cost out estimate of
A$15 mln
    ** Jefferies sees H2 FY24 EBIT of A$58 mln
    ** Two of 9 analysts rate stock "buy", 4 "hold", 3 "sell" or
lower; median PT is A$2.50 - LSEG data
    ** Stock down 40.2% YTD, as of last close 


($1 = 1.5366 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))