Macquarie believes the strong momentum in the first quarter should continue, based on the key indicators. In particular, Latin America has shown a strong improvement.
At its AGM the company also noted tight markets, expecting robust demand will underpin pricing in FY22.
The EUR145m acquisition of a 49% stake in Nuvisan is expected to close shortly and Macquarie suspects, going forward, bolt-on acquisition potential in life science will remain in focus. Outperform rating maintained. Target is $13.80.
Sector: Commercial & Professional Services.
Target price is $13.80.Current Price is $12.72. Difference: $1.08 – (brackets indicate current price is over target). If ALQ meets the Macquarie target it will return approximately 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
