Citi raises FY24 EBITDA forecast for Integral Diagnostics, hikes PT

Integral Diagnostics

21/02/2024 18:59

** Citi upgrades FY24 EBITDA forecast for Australia's
Integral Diagnostics  IDX.AX  
    ** IDX posted its HY revenue to be A$231.3 mln ($151.22
mln), up 7.2%
    ** Citi says company's HY NPAT of A$7.4 mln was expected
    ** Citi says IDX's impairment loss of A$71.5 mln in its New
Zealand segment was not a surprise "given the change in
competitive landscape witnessed over the past few years"
    ** Brokerage firm also raises their FY25 EBITDA forecast by
1%, but downgrades FY26 EBITDA forecast by 4%
    ** Maintains "neutral" rating and raises PT to A$2.20
    ** Six of 14 analysts rate the stock "buy" or higher, seven
"hold" and one "sell" or lower; their median PT is A$2.35 – LSEG
data
    


($1 = 1.5295 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))