AmInvestment is retaining its Hold call for IHH Healthcare Bhd with an unchanged sum-of-parts based fair value of RM7.20 a share.
It commented on Thursday IHH is opening a second tertiary hospital in China following a land contract signed between its JV and the land authority of Shanghai.
IHH is currently operating nine clinics in Shanghai, Beijing and Suzhou and a clinic in HK. It is also constructing the 500-bed Gleneagles HK – slated to open in early 2017.
Maintain Hold; while it is fairly valued, we like IHH for its diversified footprint and better margins.
It is currently trading at 51 times price-to-earnings – close to our implied target PE of 57 times and on par with its three-year average”
Source: The Star
http://www.thestar.com.my/business/busi ... expansion/