The broker lowers revenue forecasts across FY24-26 and extends the cash flow breakeven point out to FY26 as changes in the
Management's strategy is to get private payor reimbursement in the US and has now lowered its expectations on private payors updating their medical policies to 30% coverage by the end of 2023 from 50%. By the end of FY24: Around 85%, down from over 95%.
The Speculative Buy rating is unchanged and the target falls to 22c from 24c.
Sector: Health Care Equipment & Services.
Target price is
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