0310 GMT - Raffles Medical's healthcare services segment is likely to weigh on its core net profit over 2026-2028, says Maybank Securities' Eric Ong in a note. Lower occupancy at transitional care facilities in Singapore weighed on the company's 1H healthcare services segment's revenue, which fell around 16% from a year earlier and came as an unpleasant surprise to the analyst. He cuts his 2026-2028 core net profit projections by 16%-18% to factor in slower run rate and margins for the Singapore hospital operator's healthcare services business. Maybank Securities cuts its target price to 1.09 Singapore dollars from S$1.20 but retains its buy rating. Shares are flat at S$0.91. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
July 27, 2026 23:10 ET (03:10 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.