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.
