2153 GMT - Jefferies upgrades Imdex to buy from hold, after the mining services company's stock drops 18% over the past two weeks as investors assess the impact of the Iran conflict on the resources sector. "On the assumption that the war ends in the near future and energy prices normalize, we continue to view exploration bullishly," says analyst John Campbell. It notes that small-cap miners raised some US$25 billion prior to the conflict. That cash pile is likely to be deployed across FY 2027/2028. Imdex ended Tuesday at A$3.34, below Jefferies's A$4.25/share price target. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 24, 2026 17:53 ET (21:53 GMT)
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