Australia's Integral Diagnostics falls, Morgan Stanley cuts PT

Integral Diagnostics

07/11/2023 24:23

** Shares of medical imaging service provider Integral
Diagnostics  IDX.AX  fall as much as 4.1% to A$1.875
    ** Analysts at Morgan Stanley cut PT to A$1.95 from A$2.75
after co's Q1 trading update highlighted bigger-than-anticipated
cost pressures 
    ** Brokerage notes that staff shortages and cost inflation
continue to pressure IDX's margins
    ** MS downgrades EPS estimates for FY24, FY25 and FY26 by
40%, 34% and 32%, respectively
    ** Brokerage, however, upgrades rating to "equal-weight"
from "underweight", noting that IDX's share price has declined
~39% since July and stock now trades in line with new PT
    ** Eight of 15 analysts rate the stock "buy" or higher and
seven "hold"; their median PT is A$2.50 - LSEG Data
    ** Stock down 33.3% this year, as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))