Both research houses have cut their earnings projections for the group following its results announcement. While Phillip Capital has lowered its revenue and EBITDA estimates for 2019 and 2020 by 5% and 7%, respectively, CGS-CIMB has reduced FY19-21 forward EPS forecasts by 2.8-2.5%.
SINGAPORE (Nov 19): Phillip Capital and CGS-CIMB Research are maintaining their “buy” and “add” calls on Healthcare Management International (HMI) with the respective target prices of 77 cents and 73 cents.
This comes even as the group’s latest set of 1Q19 earnings fell short of both research houses’ estimates due to financing costs and gestation losses incurred from StarMed, its 70%-owned subsidiary.
