ALS Ltd will acquire Investiga, a pharmaceutical testing company based in the Americas. The company also indicated trading has been resilient over the third and fourth quarters.
UBS is encouraged by the ongoing recovery in geochemistry testing and the increased global exploration activity provides a supportive backdrop.
The broker retains a Neutral rating and $9.90 target and believes the stock adequately prices in the global improvement.
Sector: Commercial & Professional Services.
Target price is $9.90.Current Price is $9.55. Difference: $0.35 – (brackets indicate current price is over target). If ALQ meets the UBS target it will return approximately 4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
