Healthcare well placed to deliver third year of outperformance

Scott Power

Morgans

In a world where uncertainties abound, growth is slowing, confidence is weak, and increased volatility likely the norm, we believe healthcare is well-placed to follow its two year outperformance and pull off a hat-trick. However, multiple expansion has lifted valuations, making selectively key and us looking for opportunistic entry-points on pull-backs. Nevertheless, disparate valuations and business models across four key verticals (eg pharmaceuticals; services; medical devices; diagnostics) offer broad exposure and portfolio diversification, while AUD weakness represents a tailwind for offshore earnings. We resume coverage on ANN, COH, CSL, HSO, PRY, RHC, RMC, and SHL. Research here: (VIEW LINK)


Scott Power
Scott Power
Senior Analyst
Morgans

Senior Analyst at Morgans covering healthcare, life science, telecommunications, technology and media. I've spent the last twenty years investing in and researching emerging companies and have developed a wide network of contacts across these...

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