IHH Healthcare's Share-Price Retreat Likely Creates Entry Opportunity

Dow Jones
09/23

0246 GMT - IHH Healthcare's 10% year-to-date share price decline could offer a potential entry point, with its operations expected to improve across key markets, Kenanga IB analyst Raymond Choo Ping Khoon says in a note. Singapore operations are recovering, with bed occupancy rising above 52% in August and September compared with 51% in 2Q, he says. Performance in Turkey and Europe is also expected to improve in 2H as recent hospital acquisitions ramp up. In India, Gleneagles Healthcare's margins are expected to move closer to Fortis Healthcare's, while Greater China could provide further upside if losses narrow faster than expected, he adds. Kenanga upgrades IHH's rating on outperform from market perform, raises target price to 9.10 ringgit from 8.50 ringgit. Shares are 0.5% higher at 8.04 ringgit.

 

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