0339 GMT - Raffles Medical Group is a likely defensive option in a volatile market, RHB Research's Shekhar Jaiswal says in a research report. Patient load for its healthcare business has normalized and this segment is now devoid of pandemic-related revenue, implying annual healthcare revenue may now exceed prepandemic levels, the analyst says. The hospital business should also enjoy higher revenue as its China-based hospitals, which had been affected by pandemic restrictions,start to scale up their operations, the analyst adds. RHB upgrades the stock to buy from neutral and raises the target price to S$1.08 from S$0.95 to factor in the defensive nature of Raffles Medical's earnings in the current uncertain macroeconomic environment. Shares are 2.7% higher at S$0.945. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
April 07, 2025 23:39 ET (03:39 GMT)
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