First NZ Capital lifts Oceania Healthcare to 'outperform', 12-month target price +12%

Fri, 27 Jul 2018

By Rebecca Howard July 27 (BusinessDesk) - First New Zealand Capital lifted its rating on Oceania Healthcare to 'outperform' from 'neutral' after the aged care company announced an updated development pipeline and better embedded value growth. Analyst Andrew Steele said the development momentum supports confidence in the pipeline and the change reflected the company's "potential valuation upside". He also lifted the 12-month target price to $1.22 from $1.06. The stock last traded up 0.9 percent to $1.12 and has lifted 5.7 percent so f...

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