Australia's Monash IVF: Jefferies hikes PT as co enters WA market with new acquisition

Monash IVF

18/05/2022 21:10

** Jefferies raises PT on Monash IVF Group Ltd  MVF.AX  to
A$1.30 from A$1.25 on acquisition of Pivet Medical Centre for
A$9.4 mln ($6.54 mln)
    ** Jefferies says acquisition an opportunity for the
fertility services provider to enter new Western Australian in
vitro fertilisation (IVF) market  urn:newsml:reuters.com:*:nL3N2XA049
    ** We see this as an opportunity to build share in this
market over the medium-term through increasing volume of
procedures - Jefferies
    ** Says buyout of Pivet adds nearly 1.5% to MVF’s current
market share in the Queensland IVF market
    ** Adds potentially lower levels of discretionary spend in
Australia leading to lower volumes of IVF in medium term will be
partly offset by acquisition
    ** Broker upgrades rating to "buy" from "hold" after recent
share price decline
    ** Anticipates MVF to gain 850 basis points in WA market
share in FY23 from deal
    ** All five analysts rate the stock "buy" or higher; their
median PT is A$1.26 – Refinitiv data
    ** Stock up 5.7% this year, as of last close
 ($1 = 1.4366 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru; editing by Jonathan
Oatis)
 ((Savyata.mishra@thomsonreuters.com))