Pro Medicus: Recommendation update

About the author:

Iain Wilkie
Author name:
By Iain Wilkie
Job title:
Research Analyst
Date posted:
22 June 2023, 7:30 AM
Sectors Covered:
Healthcare and Life Sciences

  • Pro Medicus’ (ASX:PME) share price has rallied over the last few weeks beyond the bounds of our Hold recommendation structure.
  • It’s hard to find any negatives with PME; however, we continue to find it equally hard to pin-point much in the outlook versus current share prices to force further upgrades.
  • We view the current valuation as full, and are happy to trim overweight positions and wait for a better entry point for new investors.
  • We maintain our target price of (login to view), but downgrade to a Reduce recommendation.

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Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.

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