Pro Medicus has now won five major integrated delivery network (IDN) contracts over the last month, after yesterday announcing a seven year $28m contract with US-based Alina Health. The contract was for the workflow and viewer products.

Morgans highlights ongoing momentum for the company's cloud-based offering that has a distinct advantage versus many of the legacy systems.

In a period of weak market sentiment, the broker prefers the exposure Pro Medicus has to enterprises (as opposed to consumers) and maintains its Add rating and $56.20 target price.

Sector: Health Care Equipment & Services.

Target price is $56.20.Current Price is $41.14. Difference: $15.06 - (brackets indicate current price is over target). If PME meets the Morgans target it will return approximately 27% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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