Stock Name: RafflesMG
Company Name: RAFFLES MEDICAL GROUP LTD
Kim Eng Research in a Sept 13 research report says: "Since our last update, RMG's share price has trended lower despite the in-line 2Q11 results. At the current share price, it is 19% below its August peak of $2.53 and has broken below its 12-mth low of $2.07. This makes valuation all the more enticing.
"The Ministry of Health recently announced certain initiatives to be introduced in 2012, which could provide some positive benefits for RMG. RMG is trading below its 3-year historical mean PER of 24.1x.
"Target price maintained at $2.80 based on our DCF valuation model. Implied FY12F PER is 27x. We continue to like the company for its resilient business and strong operating cash flow. MAINTAIN BUY."
Company Name: RAFFLES MEDICAL GROUP LTD
| Research House: Kim Eng | Price Call: BUY | Target Price: 2.80 |
Kim Eng Research in a Sept 13 research report says: "Since our last update, RMG's share price has trended lower despite the in-line 2Q11 results. At the current share price, it is 19% below its August peak of $2.53 and has broken below its 12-mth low of $2.07. This makes valuation all the more enticing.
"The Ministry of Health recently announced certain initiatives to be introduced in 2012, which could provide some positive benefits for RMG. RMG is trading below its 3-year historical mean PER of 24.1x.
"Target price maintained at $2.80 based on our DCF valuation model. Implied FY12F PER is 27x. We continue to like the company for its resilient business and strong operating cash flow. MAINTAIN BUY."
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