IHH Healthcare

IHH Healthcare: UOB Kay Hian upgrade to Hold after IHH’s share price has corrected over 13% from its high in Sep 13. The house projects a 27% earnings CAGR over 2013-16 as an aggressive expansion plan is being carried out, but remain vigilant of execution risks. Near-term catalysts include improved bed utilisation at Mount Elizabeth Novena and potential gain from the sale of medical suites at Gleneagles Medini. Upgrade to HOLD. Target price: $1.38. Entry price: $1.25.