See page 7 for analyst certification and important disclosures, including non-US analyst disclosures. Overweight J P M O R G A N Asia Pacific Equity Research 21 July 2026 Telix Pharmaceuticals 2Q26 acceleration skews FY26 revenue risk to upside; regulatory catalysts now key; Overweight TLX reported its 2Q26 update today. Overall, PSMA Imaging continues to perform ahead of consensus (+5% at 1H26) and we see clear upside risk to the FY26 guidance range (now pointing to the upper-end of US$950-970m). While a U ...

July 21, 2026 08:45 AM GMT Telix Pharmaceuticals Ltd | Asia Pacific M Update Solid sales momentum We update forecasts following 2Q26 sales results and updated FY26 guidance. Remain OW. Key Takeaways 2Q26 trading update - key points: (1) TLX reported 2Q26 revenue of US$247mn, implying 1H26 revenue of US$477mn (MS US$472mn, VA US$469mn), with the beat driven by better-than-expected Precision Medicine revenue in 2Q26 (US$202mn was +6% ahead of our forecast of US$190mn). On this basis, TLX expects FY26 revenue ...

Action | 21 Jul 2026 02:11:41 ET │ 10 pages Telix Pharmaceuticals Ltd (TLX.AX) Removing Upside 30-Day Catalyst Watch We are closing our catalyst watch on Telix following an ahead of VA consensus 2Q sales print, although the shares were little moved. | Buy / High Risk | | | --- | --- | | Price (20 Jul 26 16:00) | A$15.10 | | Target price | A$31.00 | | Expected share price return | 105.3% | | Expected dividend yield | 0.0% | | Expected total return | 105.3% | | Market Cap | A$5,131M | | | US$3,598M | Laura Su ...

Action | 21 Jul 2026 02:08:50 ET │ 10 pages Telix Pharmaceuticals Ltd ADR (TLX.O) Removing Upside 30-Day Catalyst Watch We are closing our catalyst watch on Telix following an ahead of VA consensus 2Q sales print, although the shares were little moved. | Buy / High Risk | | --- | | Price (20 Jul 26 16:00) | US$10.51 | | --- | --- | | Target price | US$22.00 | | Expected share price return | 109.3% | | Expected dividend yield | 0.0% | | Expected total return | 109.3% | | Market Cap | US$3,571M | Laura Sutcli ...