CHG Jumps 5.50%, Analyst Revises TP to ฿4.40 in Light of Earnings Doubling in 2Q21
CHG rose ฿0.22/share or 5.50% to ฿4.22/share as of 11:45 local time in Thailand, with a trading value of 545 million baht.
The share price of Chularat Hospital Public Company Limited (CHG) rose ฿0.22/share or 5.50% to ฿4.22/share as of 11:45 local time in Thailand, with a trading value of 545 million baht.
Capital Nomura Securities (CNS) increased its target price on CHG to 4.40 baht from 3.60 baht, forecasting earnings of 363 million baht in 2Q21 (+135% YoY, +44% QoQ) due to higher revenue outlook from Covid-19-related services, which will account for 25% of total revenue in 2Q21, as well as an improvement in social security scheme and general patients.
Gross margin is expected to grow YoY and QoQ to 30.2%, while SG&A could decrease to 9.5%. Thus, CNS revised up the 2021-2022 earnings forecast to +21% and +13%, respectively.