RafflesMed: OCBC maintains Hold at TP $2.35. Believes value as potential acquisition after ThomsonMed’s takeover and Parkway’s delisting alr priced in. Cites slower foreign patient growth than regional peers as factor but remains positive due to higher value-added services and more advanced medical treatment...
Est TP based on 24x FY11F EPS. Current P/E at 30.57x compared to historical avg of 20.74x, does look on the steep side. At current price of $2.47, it is close to the avg TP $2.46 of analysts.
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