Sonic Healthcare PT cut by Jefferies as COVID test demand slumps

Sonic Healthcare

10/10/2022 22:21

** Jefferies cuts PT on Sonic Healthcare Ltd  SHL.AX  to
A$36.50 from A$38.75, retains "buy" rating
    ** Brokerage expects lower COVID-19 PCR test demand for FY23
across Australia, UK and U.S.
    ** During FY23 Q1, testing volumes declined by 23%-47%
across all of the healthcare provider's geographies - Jefferies
    ** Brokerage lowers its forecast for the company's FY23 EPS
by 5% and FY24 EPS by 4%
    ** 6 of 15 analysts rate the stock "buy" or higher, 5 "hold"
and 4 "sell"; median PT A$35.65 - Refinitiv
    ** Company's shares down ~34% this year, as of last close
 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com))