0122 GMT - PolyNovo keeps its bull at Macquarie despite the wound-treatment specialist missing FY 2026 revenue expectations. The investment bank maintains an outperform rating on the ASX-listed device maker, with analyst Shane Ponraj flagging a stronger-than-anticipated jump in annual cash flow from operations to A$24 million, from A$3 million. With a solid balance sheet and capital-expenditure requirements for PolyNovo's new manufacturing facility largely complete, Ponraj reckons that the company is now well-placed to invest in marketing. He expects ongoing strong order growth. Macquarie cuts its target price 26% to 1.30 Australian dollars. Shares are down 2.3% at A$0.835. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
July 26, 2026 21:22 ET (01:22 GMT)
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