Pro Medicus (ASX:PME) has been upgraded by Barrenjoey to "overweight" after a 40% decline from its February peak, Australian Financial Review reported Tuesday citing Josh Kannourakis from the research firm.
The research firm maintained Pro Medicus' price target of AU$275, the report said.
The analyst said he now considers the company "undervalued" but its valuations continue to be a "key debate".
He added that a recent rollout of its core platform for medical imaging technology with an unnamed customer has "proven the company's competitive advantage," as cited in the report.
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