Updates
** Shares of ALS ALQ.AX fall as much as 9.3% to A$16, the lowest level since April 28
** Stock marks biggest intraday pct loss since September 19, 2024
** ALQ among top losers on ASX 200 benchmark
** Laboratory testing services provider, on Tuesday, in its FY25 report announced A$350 mln ($225.54 mln ) equity raising to fund developments of its four key laboratories
** Jefferies downgrades stock to "hold" from "buy", trims PT to A$18.2 from A$18.8; finds equity raising a surprise and perhaps could have been internally funded to avoid share dilution
** Morningstar cuts PT to A$19.7 from A$20; adding that immediate repayment of high-interest variable debt should dampen EPS dilution in FY26
** Stock up 8.1% YTD
($1 = 1.5518 Australian dollars)
(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))
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