Australia's Pro Medicus hits near 2-month high as Jefferies lifts target

Pro Medicus

Today 03:42

Updates
** Shares of Pro Medicus PME.AX rise as much as 5.1% to A$194.2, hitting their highest since August 25
** Jefferies raises PT on healthcare informatics firm to A$199 from A$198.30, maintains "hold" rating
** Co on Wednesday signed seven-year A$43 million ($30.23 million) contract with Virtua Health covering Visage 7 Viewer, Workflow, Cardiology and Open Archive
** Jefferies expects revenue from the contract to begin at the start of FY28
** Brokerage adds its forecasts already assume future contract wins, so the deal does not materially change near- to medium-term estimates
** Nine of 14 analysts rate stock "buy" or higher, five "hold";  median PT  A$225 – LSEG-compiled data
** Stock down 12.4% YTD
     
($1 = 1.4223 Australian dollars)

(Reporting by Paridhi Minda and Nikita Maria Jino in Bengaluru)
((Paridhi.minda@thomsonreuters.com))