IHH Healthcare's Recent Weakness Likely Offers a Buying Opportunity

Dow Jones09-30 10:11

0211 GMT - IHH Healthcare's recent share price weakness is likely an enhanced buying opportunity, with Fortis-related litigation concerns expected to have limited impact on operations, says Citi analyst Megat Fais in a note. IHH says it isn't subject to financial claims in the dispute involving Daiichi Sankyo and former Fortis promoters. IHH's India plans remain on track to reach 10,000 beds target by 2030-2031, while Singapore's recovery is expected to continue, he reckons. Malaysia should see growth from selective bed additions and medical tourism, while Turkey's strong demand and international patient flows are expected to continue, he adds. Citi keeps a buy rating and its target price at 10.40 ringgit. Shares are 0.1% higher at 7.88 ringgit.

 

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