- Raffles Medical's share price has corrected by 10% in the last one month. With no change in its fundamental outlook and our investment thesis, we see this as an opportunity to accumulate the stock.
- - Read this at SGinvestors.io -
- Reiterate BUY and S$1.75 target price, 33% upside and ~3% yield.
Return of tourists and continuation of the transitional care facility (TCF).
- While Singapore has seen a return of medical tourists, we believe there could be further upside to the numbers amidst the expected return of Chinese tourists in 2H23. We maintain that Raffles Medical’s competitive pricing vs other private healthcare players in Singapore will translate into higher foreign patient load over the next 12 months.
- - Read this at SGinvestors.io -
- We also think Raffles Medical could have opportunities to participate in operating new TCFs that will be offered under the tendering process, which may further support near-term earnings growth.
China – a long term opportunity for Raffles Medical.
- Read more at SGinvestors.io.
