Citi upbeat on Australia's Imdex after stronger interim results

Imdex

23/02/2026 20:17

** Analysts at Citi see more upside to come for Imdex IMD.AX with exploration upcycle likely to be prolonged

** Mining tech services provider posts 16% rise in HY revenue and 22% rise in HY normalised EBITDA

** 2Q revenue being inline with 1Q revenue encapsulates solid operational environment - Citi

** Brokerage raises target price to A$4.65/shr; keeps "buy" rating

** Double-digit percentage growth compared to prior corresponding period has been a key feature across 1H FY26 - Citi

** Brokerage raises FY26 EBITDA forecast by 5% to A$151 mln ($106.59 mln) for co

** YTD, stock up 16.3%, as of last close

($1 = 1.4166 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)

 ((shivangi.lahiri@thomsonreuters.com))