Report
Chris Kallos, CFA
EUR 98.48 For Business Accounts Only

Brownfield momentum and solid pipeline underscore near-term growth prospects for Healthscope.

We maintain our AUD 2.60 per share fair value estimate and Standard stewardship rating for narrow moat-rated Healthscope following the appointment of Gordon Ballantyne as Managing Director and CEO, effective May 15, 2017. Shares in Healthscope are currently trading at a 15% discount to our intrinsic assessment and are therefore undervalued, in our opinion. Despite a reasonable interim result, the stock continues to languish after being oversold, in our opinion, back in October 2016, following a ...
Underlying
Healthscope Ltd.

Healthscope is a private healthcare provider, with 45 private hospitals and 48 medical centres and skin clinics across Australia, as well as 56 international pathology laboratories. Co. is also a provider of pathology services in New Zealand, Singapore and Malaysia. Co.'s reportable segments are Hospitals Australia, which provides management and surgical and non-surgical private hospitals; Pathology New Zealand, which provides pathology services in New Zealand; and Other, which provides pathology services in Malaysia, Singapore and Vietnam and practice management services in medical centres in Australia.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Chris Kallos, CFA

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