Parkway - Parkway Holdings downgraded to Neutral by UBS

Stock Name: Parkway
Company Name: PARKWAY HLDGS LTD
Research House: UBS

UBS has downgraded Parkway Holdings (P27.SG) to Neutral from Buy on limited upside to its $4.00 target price following recent run-up fuelled by takeover battle between Khazanah Nasional, Fortis Healthcare (532843.BY), with latter eventually agreeing to sell stake to Malaysian sovereign wealth fund.



“Given the strong performance, we believe further outperformance would be a challenge in the near term,” says UBS.

But still favours healthcare group’s fundamentals: “Parkway Holdings sits at the crossroads of two major themes affecting Asia: an ageing population and rising GDP per capita.”



Shares flat at $3.93.