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NMC Health downgraded by Jefferies

14 June 2017 15:36

Jefferies has downgraded its recommendation on NMC Health to hold (from buy) stating that it is looking for a lower entry point, given EV and PE multiples are at all-time highs.

The broker added: "We raise EPS by c.4%-5% reflecting NMC's recently raised guidance due to a more favourable regulatory outlook in Abu Dhabi, but downgrade to Hold as even with speculation of a deal in Saudi Arabia believe $500m of debt firepower for deals is already largely priced in."

Price target raised to 2,450p a share (from 2,200p).

At 3:36pm: (LON:NMC) NMC Health PLC share price was -11p at 2296p

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