0216 GMT - Pro Medicus is initiated with an overweight rating at Morgan Stanley, where analysts compare the imaging-tech provider favorably with logistics-software developer WiseTech. MS analysts write in a note that Pro Medicus's solutions, like those at WiseTech, are very scalable. Both companies' penetration of global markets is relatively low and customer churn rates are small, they observe. The MS analysts forecast Pro Medicus's customer volumes to grow by about 7% annually over the next five years, compared with overall industry growth of 2.3%. MS places a A$300 target price on the stock, which is up 1.6% at A$254.66. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 16, 2024 21:16 ET (02:16 GMT)
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