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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.