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IHH Healthcare - Champion calibre
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Publish date: Wed, 28 Aug 2013, 08:33 AM
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2Q13 and 1H13 core earnings were in
line, accounting for 22% and 37% of
our FY13 numbers. However, we cut
FY13-15 estimates by 7-9% as we see
more start-up and other opex costs
going forward. Our SOP-based target
price is reduced as a result. We keep
our Outperform rating as we expect a
more robust ramp-up of the group's
global operations.
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