** Shares of Propel Funeral Partners rise as much as 2.3% to A$5.370, on track for their best day since Feb 2, if gains hold
** Co completed A$80 mln ($52.13 mln) placement, and also acquires Southern Funeral Home business in New Zealand for A$4.6 mln
** Bell Potter says acquisition is ~1% incremental to its FY24 revenues estimates, sees increase in merger & acquisitions premium
** Bell Potter raises price target by 5% to A$6.20/share, maintains "buy" rating
** Brokerage cuts FY24 EPS estimates by 0.7% but raises FY25 and FY26 estimates by 2.4% and 2.8%, respectively
** All six analysts rate the stock "buy" or higher; their median PT is A$5.98 - LSEG Data
** Stock up 1.7% YTD, as of last close
($1 = 1.5342 Australian dollars)
(Reporting by John Biju in Bengaluru)
((John.Biju@thomsonreuters.com;))
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