RHC - Ord Minnett rates the stock as Accumulate
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Ord Minnett reviews the incoming French president's health policy statements and concludes that there is reason to be encouraged by the reformist agenda. The broker notes positive statements with regard to the role of private hospitals and apparent criticism of past tariff reductions.
Overall, Ord Minnett believes reimbursement should at least stabilise in France, allowing the company's operations to return to growth by FY19.
In Australia, hospitals and pharmacies support the growth outlook, despite the somewhat quiet domestic conditions. Double-digit growth in operating earnings is expected in FY18. Accumulate rating retained. Target is $80.
Sector: Health Care Equipment & Services.
Target price is $80.00.Current Price is $70.94. Difference: $9.06 - (brackets indicate current price is over target). If RHC meets the Ord Minnett target it will return approximately 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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