BH Jumps 3% Ahead of Resuming International Patients
Analyst upgrades its recommendation on BH from "Sell" to "Buy," with a target price of 155 baht as foreign patients are expected to return in the second half of 2022
The share price of Bumrungrad Hospital Public Company Limited (BH) rose ฿4.50/share or 3.21% to ฿144.50/share as of 15:58 local time in Thailand, with a trading value of 555 million baht.
CGS- CIMB Securities stated in the analysis on 12 October 2021 that it expects BH to earn a normal profit of 308 million baht in 3Q21, or an increase of 39% YoY. Foreign patients are expected to return in the second half of 2022, resulting in approximately 10% revenue growth over the next 2 years. CGS- CIMB has upgraded its recommendation on BH from “Sell” to “Buy,” with a target price of 155 baht.
Meanwhile, KTBST Securities (KTBST) estimates that hospital stocks such as BH will benefit the most from the country’s reopening on November 1. This is because BH presently has the largest share of revenue from international patients compared to its peers.