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Analysts mostly lift TPs on Raffles Medical Group on the back of record 1HFY2022 results

Felicia Tan
Felicia Tan8/11/2022 01:59 PM GMT+08  • 6 min read
Analysts mostly lift TPs on Raffles Medical Group on the back of record 1HFY2022 results
RMG's Raffles Hospital. Photo: The Edge Singapore
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Analysts from CGS-CIMB Research, DBS Group Research, Maybank Securities, OCBC Investment Research and RHB Group Research are maintaining their “add” or “buy” calls after Raffles Medical Group (RMG) posted strong results for the 1HFY2022 ended June. The group’s earnings, which surged 51.3% y-o-y, surpassed consensus estimates.

PhillipCapital is also recommending investors “buy” into the counter after upgrading its recommendation from “neutral” in its Aug 3 report.

In his report, Chew was all positive on the counter, highlighting its “resilient revenue” despite the lower Covid-19-related revenue, the surge in operating margins, the growth in China despite the lockdowns and the surge in operating cash flow.

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