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Raffles Medical Group ‘a laggard on the recovery theme’: UOB Kay Hian

Lim Hui Jie
Lim Hui Jie12/15/2020 03:35 PM GMT+08  • 3 min read
Raffles Medical Group ‘a laggard on the recovery theme’: UOB Kay Hian
UOB Kay Hian has maintained their “buy” call on Raffles Medical Group, and expect patient loads to normalise to pre-Covid levels.
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UOB Kay Hian analysts Lucas Teng and John Leong have maintained their “buy” call on Raffles Medical Group with an unchanged target price of $1.07.

The analysts called the group a “laggard on the recovery theme” and expect local patient load to reach “normalised levels that are on a par with pre-Covid-19 admissions.”

They note that medical services have largely seen a recovery in 2H2020, with private hospital admissions in Singapore down by only 9% y-o-y in Oct 2020.

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