2154 GMT - Jefferies raises its price target on imaging-tech provider Pro Medicus by 79% to A$250.00/share, but concludes that only a hold call is warranted on its stock. That's because Pro Medicus ended Tuesday at A$254.00, more than double year-ago levels. "Valuations are stretched to a point beyond our justification, yet we see upside risk to consensus estimates," analyst Wei Sim says. Jefferies raises its earnings forecasts for FY 2026-2027 by 37-71%, anticipating more health care companies will move away from legacy tech providers over the next 3-5 years. Its revised FY 2026-2027 earnings projections are 13%-32% ahead of consensus hopes. Still, Jefferies says Pro Medicus "needs to penetrate 98% of U.S. market to justify its current valuation." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 14, 2025 16:54 ET (21:54 GMT)
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