AUSTRALIAN CLINICAL LABS LIMITED (ACL)
Share Price Analysis and Chart

24/03/2026

3

Hold

$2.20

-0.90%

Ord Minnett highlights Australian Healthcare as a defensive sector amid volatile global conditions, identifying Regis Healthcare, Integral Diagnostics, Sigma Healthcare and EchoIQ as preferred exposures.

Earnings resilience and multiple growth drivers support the sector, assess the analysts, particularly for companies with strong balance sheets and catalyst pipelines.

The broker notes higher bond yields have driven valuation resets, with weighted average cost of capital (WACC) assumptions lifted and target prices reduced across research coverage.

Cost pressures, the analysts note, are most evident for wholesalers and pathology providers given freight exposure and limited near-term pricing power.

Ord Minnett retains a Hold rating for Australian Clinical Labs and lowers its target to $2.20 from $2.40.

FORECAST
Ord Minnett forecasts a full year FY26 dividend of 10.80 cents.
Ord Minnett forecasts a full year FY27 dividend of 11.80 cents.

20/02/2026

3

Downgrade to Hold from Buy

$2.40

8.11%

 Australian Clinical Labs posted first half results that missed Canaccord Genuity's forecasts. The broker suspects the miss, and the downgrade to FY26 guidance, primarily relate to marginal share losses.

Underlying EBIT guidance has been downgraded by -3.5%, further exacerbated by additional operating expenditure stemming from the FWC review of gender undervaluation.

The pathology demand environment is not strong enough to allow the company's operating model and strategy to be differentiated from listed competitors and drive a re-rating, in the broker's opinion.

Rating is downgraded to Hold from Buy. Target is reduced to $2.40 from $3.85.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 10.00 cents and EPS of 17.00 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 11.00 cents and EPS of 18.00 cents.