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;))