Citi cuts PT, earnings estimate on Australia's Sonic Healthcare

Sonic Healthcare

23/11/2023 21:56

** Analysts at Citi cut price target for Sonic Healthcare
 SHL.AX  to A$33 from A$38 on lower earnings and higher capital
expenses; but maintains "buy" rating 
    ** Brokerage cuts EPS estimates for FY24-FY26 by 3% to 4% to
reflect the acquisition of U.S.-based Pathology Watch, which is
currently loss making 
    ** Medical diagnostics firm reiterated its FY24 earnings
forecast of between A$1.7 bln and A$1.8 bln ($1.11 bln and $1.17
bln) at its AGM on Nov 16 
    ** Seven of 15 analysts rate the stock "buy" or higher, five
"hold" and three "sell" or lower; their median PT is A$34.10 –
LSEG data
    ** Stock down about 4% this year, as of last close
 ($1 = 1.5366 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))