0130 GMT - IHH Healthcare's earnings may stay resilient in 2H, given improvements in inpatient volumes, Affin Hwang IB analyst Andrew Lim says in a note. The healthcare provider looks well on track to achieve 29% EPS growth for 2024, supported by a low 2023 base and stronger contributions from Malaysia, Turkey and India, he reckons. Ringgit appreciation could have minimal impact on IHH, as conservative estimates for SGD, which makes up nearly 50% of its profit before tax were already factored in, he adds. IHH plans to add about 4,000 beds over the next four years, meeting strong demand, Lim notes. Affin Hwang raises IHH's target price to MYR8.30 from MYR7.40, and maintains a buy rating given its earnings growth prospects and undemanding valuation. Shares are unchanged at MYR7.22. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
October 09, 2024 21:30 ET (01:30 GMT)
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