Raffles Medical upgraded to 'buy', target raised to $5.10 by Maybank

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

Research House: Maybank Kim Eng

Price Call: BUY

Target Price: 5.10

SINGAPORE (May 21): Maybank Kim Eng has upgraded Raffles Medical Group to "buy" from "hold" and raised its price target to $5.10 from $3.89.

The revised target takes into account future contributions from the company's upcoming hospital in Shanghai.

"Raffles Medical can be considered an early entrant into China's private hospital segment, as most foreign investors only operate clinics and medical centres currently," Maybank Kim Eng analyst John Cheong wrote in a note today.

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.

Raffles Medical downgraded to "neutral" by OSK-DMG

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

Research House: OSK-DMG

Price Call: BUY

Target Price: 4.05

SINGAPORE (Oct 28): OSK-DMG has downgraded Raffles Medical Group to "neutral" from "buy", citing a muted earnings growth outlook.

The healthcare group's earnings next year might grow only 11%, compared with a likely improvement of 15% to 20% for its peers in the region, according to OSK-DMG analysts Arshath Mohamed and Shekhar Jaiswal, who have a price target of $4.05.

Raffles Medical maintained at 'sell' with same $3.10 price target by Goldman Sachs

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

Research House: Golman Sachs

Price Call: SELL

Target Price: 3.10

SINGAPORE (Oct 28): Goldman Sachs is keeping its "sell" call on Raffles Medical Group with an unchanged price target of $3.10.

In an Oct 27 earnings review report, Goldman Sachs says that although Raffles Medical's healthcare services sales were higher than expected, hospital services sales continued to underperform. Margins also came under pressure rising labour costs.

In 3Q ended Sept, Raffles Medical's EBITDA was 10% higher at $21 million from a year ago.

Raffles Medical maintained at 'hold' with $4.19 price target by DBS

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

Research House: DBS Vickers

Price Call: HOLD

Target Price: 4.19

SINGAPORE (Oct 28): DBS Group Research is keeping its "hold" call on Raffles Medical Group with a $4.19 target price.

The research house that while 3Q earnings look on track to meet expectations and expansion plans look positive for the medium term, the stock is already trading at 27x FY15F earnings.

In 3Q14 ended Sept, Raffles Medical's revenue and earnings grew 11% to $94.5 million and $15.5 million respectively.

Healthcare Services revenue increased 16.4%, led by higher patient load, expanded clinic network, and more healthcare insurance services.