Morgans downgrades Monash IVF to Hold from Add to reflect recent share price strength.
The broker remains optimistic on the stock, believe guidance to 15% net-profit-after-tax growth will be met and industry feedback suggests competition is moderating.
Morgans adjusts longer term growth rates and raises the valuation-based target price to $1.37 from $1.25.
Sector: Pharmaceuticals, Biotechnology & Life Sciences.
Target price is $1.37.Current Price is $1.43. Difference: ($0.06) – (brackets indicate current price is over target). If MVF meets the Morgans target it will return approximately -4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
