The Pro Medicus Limited (ASX: PME) share price is up around 3.5% thanks to a broker.
Pro Medicus is a Melbourne-based software owner and developer, licensing products to large US hospitals and Australian radiology clinics. The company has offices in Richmond, Victoria, Berlin, Germany and in the United States.
Why Pro Medicus Is Up 3%
The healthcare company has received a boost thanks to a broker. Share brokers provide coverage on a number of shares and say whether they think it is a buy, hold or sell and also predict where they think the share price will be in a year from now. Of course, it’s all estimates and guesswork. Morgans is the broker in question.
The broker firm believes that Pro Medicus can continue to grow revenue, profit margin and the dividend over the coming years. That’s why Morgans has initiated coverage with an ‘add’ rating and a share price prediction/target of $23.69, suggesting a return of around 10% if the target becomes reality.
Whilst Pro Medicus is definitely one to watch, it has a price to match the potential at the moment. There’s a chance the share price could be more attractive at some point during the rest of 2019. The below ASX growth shares could be better ideas.
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