Company Name: IHH HEALTHCARE BERHAD
| Research House: Credit Suisse | Price Call: BUY | Target Price: 3.75 |
IHH is up 2.8% at $1.275 after reporting its 2Q12 net profit rose five-fold to MYR403.5 million ($162 million) on its newly-acquired Turkey operation and a one-time gain from the sale of Singapore medical suites.
Credit Suisse says the results were strong; “IHH’s growth initiatives are on track, with 2,000 new beds boosting capacity by 40% over the next three-to-five years, helping to extend its leadership positions in its home markets.”
It views IHH as the best-leveraged on emerging markets’ private-healthcare demand growth, given its scale, strong clinical reputation and fast-growing healthcare portfolio. It keeps the Malaysian-listed shares at Outperform with a MYR3.75 target.
Orderbook quotes suggest gains will likely be capped by the $1.285 intraday high.
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