Similar to the retailers, healthcare has performed strongly this month and after a tough 12-moints we can see some bargain hunting entering TLX which has been hurt by regulatory setbacks rather than operational performance, i.e. FDA delays, an SEC investigation into pipeline disclosures and elevated investor expectations combined to trigger a sharp de-rating, despite continued strong growth from its flagship imaging franchise.
- We are bullish towards TLX initially targeting the $19-20 area.
Trade Idea: Buy Telix Pharma (TLX) at $14.55 with stops at $12.70, around 12% risk
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