Singapore Stock Market News

IHH Healthcare - Calling time

StockFanatic
Publish date: Wed, 20 Nov 2013, 11:11 AM
StockFanatic
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After a strong maiden year, we see little upside left for IHH, as we are not expecting more rabbits to be pulled out of its hat in the mid-term, while peers are looking much cheaper now.

Our FY13-15 EPS has been cut by 4-30% for slowing revenue intensity in Singapore and higher forex-loss & opex assumptions, while our SOP-based target price has been adjusted down accordingly. We also downgrade the stock to Neutral (from Outperform) in view of a lack of near-term catalysts.
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