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FPH - UBS rates the stock as Sell
PUBLISHED
2020-06-17
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UBS notes initial attempts to assess sales related to the pandemic were based on high estimates of infection rates, available ICU beds and manufacturing capability.
Amid further information, the broker lifts hospital revenue estimates in FY21 but believes the magnitude and longevity of the pandemic-related sales will eventually be disappointing. In addition, the share price has added 30% since mid January.
Sell rating retained. Target is raised to NZ$18.20 from NZ$17.45.
Sector: Health Care Equipment & Services.
Current Price is $26.26. Target price not assessed.