0658 GMT - Raffles Medical Group's China hospitals are likely to break even in 2026, Maybank Securities analyst Eric Ong writes in a note. The Singapore-listed private healthcare provider's hospital portfolio in China is showing decent progress, with a 10% on-year increase in turnover in 2024, he says. The group's China operations are on a promising growth trajectory, he adds. Management now expects its China operations to achieve breakeven in earnings before interest, taxes, depreciation, and amortization in 2026, as it continues to increase bed utilization there, Ong says. Maybank upgrades the stock's rating to buy from hold, raising the target price to S$1.03 from S$1.00. Shares are at S$0.91.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 01:58 ET (06:58 GMT)
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