Citi sees Australia's Integral Diagnostics buy of Horizon Radiology as EPS-accretive

Integral Diagnostics

19/05/2022 02:24

** Citi says Integral Diagnostics  IDX.AX  acquisition of
Horizon Radiology is in line with co's strategy
    ** Citi raises stock PT to A$4.80 from A$4.7, maintains
"buy" rating 
    ** We estimate the acquisition will be ~2% EPS-accretive -
Citi
    ** Brokerage says acquisition will complement IDX's presence
in Auckland
    ** Citi expects IDX's business will be heavily affected by
Omicron in 2H22, but says the market should look through it in
FY22
    ** Nine of 13 analysts rate the stock "buy" or higher, four
"hold"; their median PT is A$4.69– Refinitiv Eikon data 
    ** Stock down 24.6% this year, as of last close 
    


 (Reporting by Navya Mittal in Bengaluru)
 ((Navya.Mittal@thomsonreuters.com;))