Macquarie cuts PT on mining services provider Imdex

Imdex

13/06/2023 05:24

** Analysts at Macquarie slash Price Target on Australia's
Imdex  IMD.AX  by 6% to A$2.67 per share, taking into accounts
softness in Australia and Canada operations
    ** Brokerage cuts earnings expectations on the mining
equipment, technology and services provider by 6% each for FY23
and FY24
    ** Macquarie, however, says longer-term drivers remain
robust for the company representing increased critical minerals
demand and strong underlying supply and demand market
fundamentals
    ** Stock currently up as much as 1.4% 
    ** Stock has fallen 17.3% this year as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))