Clear skies for ClearBridge Health as PhillipCapital expects stronger recovery in 2H20

PhillipCapital has maintained its “buy” rating and target price of 26 cents on ClearBridge Health (CBH) on the back of a stronger 2H20 for the company. 

The Phillip Research Team said 1H20 revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) were within expectations with revenue coming in at $21.4 million and EBITDA at a positive $3.6 million. Operating cashflow also saw a reversal from negative$3.6million in 1H19 to $4.5 million in 1H20. 

They add CBH continues to expand and leverage its network of medical centres throughout ASEAN. The stronger operating cash-flow and balance sheet will allow CBH to further grow via acquisition and expand their Indonesian operations faster where the capital expenditure and working capital requirements are much higher.