Australia's Pro Medicus rises to 1-month high as Citi upgrades PT, rating

ReutersSep 19, 2025 1:15 AM

Shares of Pro Medicus PME.AX rise as much as 7.6% to A$321.57, their highest level since August 18

Stock among the top gainers in the S&P/ASX 200 index .AXJO, which is up 0.5%; healthcare stocks .AXHJ climb 2%

Citi upgrades stock rating to "buy" from "sell", and PT to A$350 from A$220

Brokerage expects the recent licensing agreement to commercialize breast cancer detection algorithm it co-created to act as a revenue lever and deepen its moat

Brokerage raised revenue growth forecasts from 20% in five years' time to mid-high 20s% given the higher renewal rates for PME's long contracts, among others

Stock currently up 5%, bringing YTD gains to 25.4%

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