CIMB starts IHH Healthcare at Outperform with $1.53 target. “IHH’s extensive footprint in a defensive sector is one of the best business models around. It possesses steady-growth profile, driven by unquenchable demands for better healthcare needs. This is a direct play on the rising global healthcare costs."
It notes IHH operates an integrated healthcare business and related services, with market leadership in its three home markets of Singapore, Malaysia and Turkey as well as operations and investments in China, India, Hong Kong, Vietnam, Brunei and Macedonia.
It adds, IHH’s ability to capture the huge demand for medical travel is a big plus, with its key home markets able to act as regional hubs for medical travel. IHH’s sponsorship of the Parkway Life REIT also provides opportunities not readily available to other healthcare players, with possible further asset-recycling chances among its Malaysian assets, and with freed capital likely redeployed to growth frontiers, it says.
The stock is up 0.4% at $1.255 at 4:38 pm.
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