Analysts at Hartleys have increased their earnings forecasts for Imdex following the company's announcement last week that it had performed strongly in the three months to September 30, 2011.
Following the update, analysts at Hartleys increased their earnings per share estimates for Imdex in 2011-12, from 18.5 cents to 21.6 cents. The broker also increased its 2012-13 earnings per share estimates to forecast 24.8 cents.
Based on Hartleys forecast for 2011-12, Imdex is trading on a forward price-earnings ratio of 9.1. The broker has a 12-month price target of $2.95 on the company.
IMD Price at posting:
$2.10 Sentiment: Buy Disclosure: Held
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