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Investing.com - JPMorgan has upgraded Bumrungrad Hospital PCL (BH:TB) from Neutral to Overweight and raised its price target to THB220.00 from THB190.00.
The upgrade follows Bumrungrad Hospital’s outperformance against the market by 20% over the past month, driven by broader Thai market optimism and the company’s strong second-quarter earnings results.
JPMorgan cited improved revenue guidance and robust 2Q25 performance as factors likely to drive positive earnings per share revisions and lead to a valuation re-rating for the hospital operator.
The investment bank expressed growing optimism about patient revenue momentum in the Middle East, noting a narrative shift from "not yet at the bottom" to "more markets could be going right than wrong."
Based on these positive developments, JPMorgan has increased its EPS estimates for Bumrungrad Hospital by 2-4% and views the company as a "best-in-class hospital operator" worthy of investment.
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