Pro Medicus: Recommendation update

About the author:

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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