Australia's Pro Medicus hits near 2-month high as Jefferies lifts target
Pro Medicus shares rose as much as 5.1% to A$194.20, their highest since August 25, after Jefferies raised its price target to A$199 from A$198.30 and maintained a hold rating.
1. Target raised slightly
Jefferies lifted its price target on Pro Medicus to A$199 from A$198.30 and maintained its hold rating. The company recently signed a seven-year A$43 million contract with Virtua Health covering Visage 7 Viewer, Workflow, Cardiology and Open Archive; Jefferies expects revenue from the deal to begin at the start of FY28. The brokerage said its forecasts already assume future contract wins, so the deal does not materially change near- to medium-term estimates.
