Sonic Healthcare: The Future Looks Bright

Scott Power


Sonic FY15 results were in-line with our expectations, with solid top-line growth constrained by well-flagged challenging market conditions in both Australia and US pathology flat-lining underlying profit. However, we believe the worst is behind us, as strengthening 2H organic volume growth across all regions, a restructured US business, along with ongoing cost-out initiatives, uplift from recent acquisitions and FX tailwinds, strengthen our confidence in a solid recovery and return to a more stable earnings growth profile. (SHL, Add, Price Target A$22.33) Report attached, here is the link to the blog site (VIEW LINK)

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Scott Power
Scott Power
Senior Analyst

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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