<WIRE> Pro Medicus (ASX:PME) Reaches Record High After Securing a $90 Million Contract; Citi Maintains Optimism

Pro Medicus (ASX:PME), a leading participant in the ASX 200, saw impressive shares gains of 10.8%, reaching A$78.85.

The healthcare imaging software company hit a record high after securing a ten-year contract, valued at A$140 million (or $90 million), with Baylor Scott & White Health in Texas.

Citi Research regards this contract as a potent validation of the company’s technological capacity.

The contract is estimated to generate $25 million per year in revenue.

Despite the considerable projected revenue and EPS growth for FY23-26, Citi maintained a ‘neutral’ rating on valuations with a target price (TP) of A$72.

The average analysts' rating coincides, standing equivalent to ‘hold’ with a median TP is A$71.5, according to LSEG data.

Pro Medicus (ASX:PME) has seen their stock rise around 29% this year up until the most recent close.

Pro Medicus is a healthcare technology company specializing in imaging software.

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