Imdex's (ASX:IMD) recent acquisitions could allow it to wield a full suite of "rock knowledge" sensors as well as data acquisition and interpretation software in an activity cycle that "bottomed out and has resumed growth," Euroz Hartleys said in a Tuesday report.
Imdex acquired Advanced Logic Technology and Mount Sopris Instruments, investing around AU$100 million in technology, tools, and software in down-hole rock property sensor systems and geoscience
processing software adjunct to its own services suite.
Investors are clearly weighing up the impact and cadence of activity, the report noted. The analysts' numbers for the earnings before interest, taxes, depreciation, and amortization, as well as amortization of intangibles, increased such that the reported net profit after tax expectations decreased modestly.
The investment firm maintained its buy recommendation and raised the price target to AU$4.05 per share from AU$3.80 per share.
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