SHL – RBS Australia rates the stock as Buy

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Target $13.41 (was $13.48). To reflect the expectation US growth for Sonic may moderate given continued weak macros RBS has trimmed earnings estimates. The changes mean a minor cut in price target.

The company remains well placed to expand its global footprint, so there is no change in the broker’s Buy rating.

Sector: Health Care Equipment & Services.

Target price is $13.41.Current Price is $11.19. Difference: $2.22 – (brackets indicate current price is over target). If SHL meets the RBS Australia target it will return approximately 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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