According to Citi, they have upgraded their forecast for Australia’s Integral Diagnostics' (ASX: IDX) EBITDA for FY24.

The company recently announced its half-year revenue to be A$231.3 million ($151.22 million) a 7.2% increase.

Citi noted that the company’s half-year NPAT of A$7.4 million fell in line with expectations.

The institutional investor stated that Integral Diagnostics' impairment loss of A$71.5 million in its New Zealand segment didn’t come as a surprise given the shift in the competitive landscape observed in the past few years.

Although the brokerage firm increased its forecast for FY25 EBITDA by 1%, they reduced the FY26 EBITDA forecast by 4%.

Citi maintained a ‘neutral’ rating but elevated its price target to A$2.20.

According to LSEG data, out of 14 analysts, six advise to ‘buy’ or higher, seven hold the current position, and one suggests to ‘sell’ or lower.

The median price target indicated is A$2.35.

Integral Diagnostics is a healthcare company specializing in the delivery of diagnostic imaging services in Australia and New Zealand.