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Affin raises KPJ target price
by hlk Fri 26 Apr 2013, 10:44
Affin Investment Bank Research raised its target price for hospital
operator KPJ Healthcare Bhd to RM6.55 from RM6.44, saying the company
was growing its medical tourism segment and preparing to open two new
hospitals.
"For exposure to the domestic defensive and growing healthcare
sector, we continue to like KPJ for its sound fundamentals, prudent and
organic expansion plans," Affin said in a report on Friday. Affin
maintained an 'add' rating on the company’s shares.
KPJ will soon be operating 23 hospitals in Malaysia, for which it may need up to RM1 billion to purchase assets.
The company is expected to raise funds through bank borrowings or the issuance of bonds, said Affin.
"The company’s gearing level remains low at 0.3 times, it still has room to gear up for expansion," it added.
Shares of KPH were up 0.33 per cent at RM6.05 while the benchmark index was 0.12 per cent higher at 9.30am.-- Reuters
operator KPJ Healthcare Bhd to RM6.55 from RM6.44, saying the company
was growing its medical tourism segment and preparing to open two new
hospitals.
"For exposure to the domestic defensive and growing healthcare
sector, we continue to like KPJ for its sound fundamentals, prudent and
organic expansion plans," Affin said in a report on Friday. Affin
maintained an 'add' rating on the company’s shares.
KPJ will soon be operating 23 hospitals in Malaysia, for which it may need up to RM1 billion to purchase assets.
The company is expected to raise funds through bank borrowings or the issuance of bonds, said Affin.
"The company’s gearing level remains low at 0.3 times, it still has room to gear up for expansion," it added.
Shares of KPH were up 0.33 per cent at RM6.05 while the benchmark index was 0.12 per cent higher at 9.30am.-- Reuters
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