Brokerages flag stretched valuations for Australia's Pro Medicus

** Analysts at Jefferies and Morningstar note strong FY results from Australia's Pro Medicus PME.AX, but find stock trading at a premium to fundamental value

** Morningstar says the healthcare informatics firm needs mid-cycle EBIT margins of 90% to justify valuation, compared with analysts' forecast of 78%

** Morningstar says shares are expensive with unrealistic growth baked in based on the size of the market

** Jefferies lowers its FY26-27 earnings forecast based on co's market share gain of U.S. radiology dropping to 13-17% from 14-19%

** Jefferies raises PT to A$300 from A$250 and retains "hold"

** Co posts a 39.2% rise in annual net profit to A$115.2 million ($74.86 million) on Thursday

** YTD, stock up 26.2%

($1 = 1.5389 Australian dollars)