Australian environmental testing, laboratory services, and scientific solutions company ALS (ASX:ALQ) highlighted deteriorating volumes in its geochemistry business and higher net interest costs in its fiscal first-half trading update, but its life sciences segment continues to be resilient, according to a Sept. 19 note from Jarden Research.
Commodities should adjust to further volume volatility as geochemistry sampling has been volatile during the period as Australian volumes fell 10% on already weak conditions, the investment firm said. Jarden expects the company to address this in its cost base and boost hub utilization from fiscal 2025 to fiscal 2027.
Jarden kept its overweight rating on ALS and reduced its price target to AU$14.20 from AU$14.90.
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