KUALA LUMPUR: Maybank Investment Bank Research has Buy calls on KPJ HEALTHCARE
and Kossan in the healthcare segment.
It said on Tuesday that for KPJ, it projects EPS growth of 4% in FY20E and 10% in FY21E, underpinned by its fast bed capacity growth of 8% in FY20E (FY19E: +3%).
“Our sum-of-parts based TP of RM1.05 is also conservative, implying 10 times EV/EBITDA (-1SD to 5-year mean) as we impute for the drug price control concern.
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