Smoke Alarms, Link Fire 'highly complementary' to Australia's Johns Lyng - Macquarie

Johns Lyng

06/07/2023 04:18

** Johns Lyng Group's  JLG.AX   acquisition of two home
services companies "highly complementary" to its business as
usual (BAU) and strata businesses - Macquarie 
    ** JLG signed deals to acquire 100% of Smoke Alarms
Australia and 70% of Link Fire Holdings for a combined A$61.8
mln, with earn-out of up to A$17.25 mln
    ** The businesses are a strategic fit to JLG - brokerage;
raises PT to A$7.70 from A$7.50
    ** JLG last up 0.9% at A$5.48
    ** Eight of 11 analysts rate stock "buy" or higher, two
"hold" and one "sell;" their median PT is A$7.23 - Refinitiv 
    ** As of last close, stock down ~12% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))