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IDX - Ord Minnett rates the stock as Hold
BY BROKER NEWS - 15/01/2018 | VIEW MORE BROKER UPDATES

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IDX -


The company has upgraded FY18 guidance to net profit growth of around 20% versus prior expectations for "high single digit growth". This has been driven by acceleration in referrals, particularly in Western Australia, and implementation of cost reductions.

Ord Minnett is encouraged by the upgrade but, with the share price currently trading above valuation and broadly in line with the prevailing offer, downgrades to Hold from Buy and raises the target to $2.30 from $1.89.

Sector: Health Care Equipment & Services.

Target price is $2.30.Current Price is $2.31. Difference: ($0.01) - (brackets indicate current price is over target). If IDX meets the Ord Minnett target it will return approximately 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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