Sonic Healthcare: The Future Looks Bright
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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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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