Raffles Medical upgraded to "buy", target raised to $4.70 by RHB

Stock Name: Raffles Medical
Company Name: RAFFLES MEDICAL GROUP LTD

Research House: RHB

Price Call: BUY

Target Price: 4.70

SINGAPORE (April 29): RHB Securities Singapore has upgraded Raffles Medical Group to "buy" from "neutral" and lifted its price target to $4.70, which is based on a discounted cash flow valuation.

"With several confirmed new spaces coming on stream, we believe Raffles Medical Group is at an inflexion point for its next stage of growth," RHB analysts James Koh and Juliana Cai wrote in a note today.