Australia's Integral Diagnostics' Q1 trading update weaker-than-expected -Citi

Integral Diagnostics

05/11/2023 21:34

** Analysts at Citi say Integral Diagnostics Ltd's  IDX.AX 
Q1 trading update was weaker-than-expected 
    ** Brokerage trims the medical imaging service provider's
target price to A$1.95 from A$3.40; maintains "neutral" rating  
   
    ** Co posts first quarter revenue growth of 8.4% in
Australia 
    ** Co's revenue and margin for Q1 were lower than consensus
expectations for 1H24 - Citi 
    ** The brokerage cuts FY24 and FY25 earnings per share
estimates by 31% and 33%, respectively
    ** Nine of 15 analysts rate the stock "buy" or higher, five
"hold" and one "sell"; their median PT is A$3.19 - LSEG Data 
    ** Stock down 34.1% this year, as of last close 

 (Reporting by Sherin Sunny in Bengaluru; Editing by Josie Kao)
 ((Sherin.Sunny@thomsonreuters.com))