Australia's Imdex rises after Jefferies upgrades to 'buy' on strong mining tech growth

Imdex

24/03/2026 23:36

Updates

** Shares of Australia's Imdex IMD.AX rise as much as 8.4% to A$3.620, logging best day since Feb. 24

** Analysts at Jefferies upgrade IMD to "buy" from "hold", keep price target at A$4.25

** Jefferies sees a very strong few years ahead for the mining tech firm, driven by major, mid-tier and junior mining company customers

** IMD continues to grow wallet share and benefits from all the long-term trends in mining — Jefferies

** 7 out of 10 analysts recommend "buy" or higher, 2 "hold" and 1 "sell"; set the median PT at A$4.56 — data compiled by LSEG

** IMD down 2.9% YTD

(Reporting by Keshav Singh Chundawat & Rajasik Mukherjee in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.com))