Jefferies says Australia's Monash IVF to increase its market share, raises PT

Monash IVF

13/11/2022 21:25

** Jefferies forecasts a 150 basis points increase in
Australian assisted reproductive services (ARS) provider Monash
IVF Group's  MVF.AX  market share in FY23, from 110 basis boints
last year 
    ** Brokerage raises price target to A$1.30 from A$1.25;
maintains 'buy' rating 
    ** Says Australian ARS industry dynamics remain attractive,
supporting future growth of Monash 
    ** Brokerage continues to expect 2.5% growth in the
Australian ARS market in FY23 due to ongoing changes in the
community perception of in vitro fertilization (IVF), with
growth over the longer term expected 
    ** MVF sees underlying NPAT for the first half of FY23 to be
A$12.5 mln ($8.38 mln), in line with the brokerage's estimates 
    ** MVF maintains underlying NPAT outlook of 10+% for FY23,
while Jefferies estimates 11% growth 
    ** Five of seven analysts rate the stock "buy" or higher,
one "hold" and none "sell" or lower; their median PT is A$1.30 –
Refinitiv data
    ** Stock has Fallen 12.8% this year, as of last close 
($1 = 1.4923 Australian dollars)
 (Reporting by Echha Jain in Bengaluru; editing by Diane Craft)
 ((Echha.jain@thomsonreuters.com))