Australia's Pro Medicus hits near 2-month high as Jefferies lifts target

By Reuters News

** Shares of Pro Medicus PME.AX rise as much as 5.1% to A$194.2, hitting their highest since August 25

** Jefferies raises PT on healthcare informatics firm to A$199 from A$198.30, maintains "hold" rating

** Co on Wednesday signed seven-year A$43 million ($30.23 million) contract with Virtua Health covering Visage 7 Viewer, Workflow, Cardiology and Open Archive

** Jefferies expects revenue from the contract to begin at the start of FY28

** Brokerage adds its forecasts already assume future contract wins, so the deal does not materially change near- to medium-term estimates

** Nine of 14 analysts rate stock "buy" or higher, five "hold"; median PT A$225 – LSEG-compiled data

** Stock down 12.4% YTD

($1 = 1.4223 Australian dollars)

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