Citi cuts PT on Integral Diagnostics, says H2 heavily impacted by COVID-19

Integral Diagnostics

27/07/2022 21:41

** Citi cuts price target on Australian medical imaging
services firm Integral Diagnostics Ltd  IDX.AX  to A$3.90 from
A$4.80; maintains "buy" rating
    ** IDX dropped as much as 13.8% on Wednesday after posting
FY annual net profit after tax (NPAT) of A$21.7 mln ($15.17 mln)
compared, down 43% compared to last year  urn:newsml:reuters.com:*:nL4N2Z8076
    ** Citi says annual NPAT was below analyst consensus of
A$28.2 mln; flags COVID-19 remains main headwind for co
    ** Downgrades EPS estimates for FY22 and FY23 by 28% and 25%
    ** Citi, however, views IDX as attractive on a 12-month
view, underpinned by strong industry long-term growth
    ** Seven of 13 analysts rate the stock "buy" or higher, five
"hold" and one "sell"; their median PT is A$4.13 – Refinitiv
data
    ** IDX has fallen 41.8% this year, as of last close,
compared with a 8.7% decline in the S&P/ASX 300 index  .AXKO 
 


($1 = 1.4300 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))