Shares in the diagnostic imaging company are trading in line with where they were 12 months ago. Albanese’s election win should provide some support for the sector here with his commitment to spending an additional $250m a year on Medicare as well as investing more in health services which is likely to drop down to more visits at Capital Health clinics. We have also recently seen further consolidation in the space with Integral Diagnostics (IDX) acquiring an unlisted peer on 7.5x EV/EBITDA, providing valuation support for CAJ.
MM is bullish CAJ
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