SHL:ASX is under Algo Engine buy conditions and is a current holding in our ASX model portfolio.
If we strip out the jump in FY21 profits from COVID testing and look at what FY22 and FY23 normalized business conditions look like, we still get to a valuation that supports the current share price.
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FY22 revenue is likely to be around $7.6bn on EBITDA of $1.7bn. EPS will be 30 – 40% up on FY20, which will support a forward yield of 3.5%.
