Australia's Monash IVF Group up; Macquarie boosts PT to Street high

Monash IVF

29/01/2024 04:25

** Shares of Monash IVF Group  MVF.AX  up ~1.4% at A$1.415,
their highest level since early-August 2019
    ** Analysts at Macquarie raise price target on co to Street
high of A$1.55 from A$1.50, maintain "outperform" rating - LSEG
data
    ** Broker raises earnings estimate by 3%, 3% and 2% for
FY24, FY25 and FY26 respectively on in-vitro fertilization
industry growth
    ** Says IVF growth of 4.4% in H1 2024 was ahead of its 2.4%
growth estimate
    ** Brokerage sees co "well placed" for ongoing market share
gains with recent acquisition of Fertility North, among others
    ** About 502,268 shares change hands, compared with the
30-day average volume of 364,995
    ** Avg rating of six analysts, including Macquarie's, an
equivalent of 'buy;' their median PT is A$1.48 - LSEG data
    ** Stock up ~7% YTD as of last close, after ending ~36%
higher in 2023

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))