Jefferies sees earnings grow for Australia's Regis Healthcare, raises PT

Regis Healthcare

26/02/2024 20:45

** Jefferies says it believes Regis Healthcare  REG.AX  is
beginning to benefit from "regulatory agenda and a more normal
operating environment" and will see earnings grow
    ** Brokerage raises its price target for the residential
aged care provider to A$4.00 from A$3.70; retains "buy" rating 
    ** Says Regis to benefit from recent CPSM acquisition and
additional government funding 
    ** Expects occupancy to improve further in the medium term
with additional support from new homes, as construction restarts
and the number of older Australians increases
    ** Five of six analysts rate the stock "buy" or higher and
one "hold"; their median PT is A$3.50 – LSEG data
    ** Stock up 11.1% YTD, as of last close

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))