Meanwhile, Jaiswal, who has kept his "buy" call and $1.30 target price, notes that Raffles Medical trades at a discount to its ASEAN healthcare peers despite strong earnings visibility.
Raffles Medical's share price, since its recent peak of $1.07 in February, has dropped more than 13% since. From the perspective of Shekhar Jaiswal of RHB Bank Singapore, this recent de-rating is "an attractive entry point" ahead of the company's 1HFY2026 earnings to be reported later this month.
Specifically, Jaiswal will be looking for better data points on whether Raffles Medical remains on track to achieve its EBITDA breakeven target for at least one China hospital by the end of this year, and if the new Integrated Shield Plan rider regulations will be structurally positive for its insurance unit, Raffles Health Insurance.
