Raffles Medical (BSL) - Poised for Mark Up
On the technicals, the stock has build up a base and broke above the base's resistance line, the bullish action provided technical evidence that the stock is expected to trade higher with near term 1st target price at S$1.19 and 2nd target at S$1.29.
The healthcare service provider recently announced earnings with full year net profit increase and a surprise raise in dividend payout.
With its new hospitals in opening in China later x(second half) this year and in 2H19. Though with new openings, we may see increased in expenses incurred in the coming quarters but future earnings looks promising. With its technical observations, we may have seen the low for the above stock.
Following is a research report from UOB KayHian research team.
Research Report Link: