BCH Gains 3%, Analyst Recomm. “BUY” with TP of ฿33 as Firm Benefits from Covid-19

BCH rose ฿0.80/share or 3.32% to ฿24.90/share, analyst has given a “BUY” recommendation with a target price of 33 baht.

The share price of Bangkok Chain Hospital Public Company Limited (BCH) rose ฿0.80/share or 3.32% to ฿24.90/share as of 11:18 local time in Thailand, with a trading value of 549 million baht.

Capital Nomura Securities (CNS) has given a “BUY” recommendation on BCH with a target price of 33 baht. BCH is a top pick, along with Bangkok Dusit Medical Services (BDMS), for the following reasons: 1) BCH is one of the most benefited hospitals from Covid-related services, which have provided significant support to the company’s earnings during the severe pandemic; and 2) the positive 2021 earnings outlook driven by an increase in revenue from Covid testing between 2Q and 3Q21, as well as an increase in revenue from Moderna vaccinations.

Additionally, CNS sees a slight positive sentiment from Ratch Group’s (RATCH) 10% capital increase in Laos-based Kasemrad International Hospital, as it will inject liquidity to BCH, reduce company’s costs in the long-term and grow the client base.

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