Pro Medicus Ltd

PME: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$73.00	Thdbyl	Wxphdbyww

Pro Medicus: Massive New Contract Win but Shares Remain Expensive

Shane Ponraj

Sep 26, 2023

We raise our fair value estimate for narrow-moat Pro Medicus by 8% to AUD 33.50. The majority of our upgrade was due to an uplift in Pro Medicus’ contracted revenue following a significant contract win and roughly 25% due to a stronger U.S. dollar.

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