0029 GMT - Healius's divestment of its Lumus Imaging unit makes sense but the Australian pathology provider needs to give further detail on where it will deploy the proceeds, Macquarie analysts say. They see the divestment improving the Australia-listed company's balance sheet position, but want to know how it will deploy surplus proceeds into productivity and profitability initiatives. The analysts tell clients in a note that they expect net proceeds of about A$800 million and for Healius to repay its existing debt facilities, thus reducing net interest costs. Macquarie cuts its target price 16% to A$1.35 and keeps a neutral rating on the stock, which is down 4.7% at A$1.2725. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 17, 2024 19:29 ET (00:29 GMT)
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