Citi lowers Australia's Integral Diagnostics PT on profit miss

Integral Diagnostics

28/08/2023 22:22

** Citi cuts price target on Integral Diagnostics Ltd
 IDX.AX  to A$3.40 from A$3.45 after the company's annual profit
miss estimates
    ** The medical imaging services provider posted FY23
operating NPAT of A$17.8 million ($11.43 million), 5% below
Visible Alpha consensus estimate of A$18.8 million
    ** Citi says inflationary pressures on co's margins persist,
but moderating 
    ** Cuts FY24-25 EPS forecast by 11% and 5% respectively on
higher finance costs; maintains "neutral" rating 
    ** 8 of 16 analysts rate the stock "buy" or higher, 6 "hold"
and 2 "sell"; their median PT is A$3.35 – Refinitiv data
    ** Stock up 6.1% this year, as of last close

($1 = 1.5569 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com))