Citi, Morgan Stanley upgrades PT for Sigma Healthcare on FY profit jump

Sigma Healthcare

21/03/2024 23:30

(Updates with share moves, comments from Morgan Stanley)
    ** Shares of Australia's Sigma Healthcare Ltd  SIG.AX  up as
much as 2.4% at A$1.26
    ** Analysts at Citi upgrade price target on the
pharmaceutical distributor to A$1.30/shr from A$1.15/shr
    ** Increases FY25-FY26 EBIT forecasts by 4-5% on higher FY
revenue and margins
    ** Citi maintains "neutral" rating on SIG    
    ** Analysts at Morgan Stanley increase PT to A$1.22/shr from
A$0.94/shr
        ** Increase NPAT estimates for FY25 by 55% and FY26 by
37%
  
        ** Adds NPAT estimates do not incorporate merger between
SIG and Chemist Warehouse group 
  
    ** SIG posts FY net profit of A$4.50 mln ($2.98 mln), up
149% YTD
    ** Stock up 22.4% YTD, as of last close

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))