“We roll forward our valuation to blended forward earnings and increase the forward multiples to factor in the defensive nature of RMG’s earnings in the current uncertain macroeconomic environment,” says Jaiswal.
Amid a potential trade war and increasing tariffs globally, markets are expected to be volatile, at least for a long while. Amid such a backdrop, analysts like Raffles Medical Group (SGX:BSL
) (RMG) as a defensive option.
RHB Singapore analyst Shekhar Jaiswal has upgraded his call on RMG to “buy” from “neutral” with a higher target price of $1.08 fom 95 cents previously.
