Krungsri recommends buying BCH with a 12 baht target, expects Q3 2026 revenue to grow 6-7%

AnalystAnalystM&A · Partnership
โดย ทันหุ้น·TH·Read original
Summary · why it matters

Krungsri Securities recommends buying shares of Bangkok Chain Hospital Public Company Limited, or BCH, with a target price of 12.00 baht, viewing the revenue recovery in the third quarter of 2026 as a short-term catalyst, while an adjustment to social security treatment fees and M&A are medium-term upside. Krungsri research expects medical revenue in the third quarter of 2026 to grow 6-7% year on year, driven by increased service usage among both Thai and foreign patients. A key highlight is that BCH derives as much as 38% of its total medical revenue from social security, or SSO. The research study indicates that a 10% increase in the flat-rate social security treatment fee from 1,808 baht would boost net profit by about 11% and add roughly 0.60 to 0.70 baht per share to the fair value. In addition, from September 1, 2026, BCH will begin consolidating the operating results of Rajavej Ubon Ratchathani Hospital, which has average revenue of about 400,000 to 500,000 baht per month, helping to expand its revenue base and extend long-term growth. BCH shares in the afternoon traded at 11.00 baht, up 0.10 baht, or 0.92%, with trading value of 12.65 million baht.

Impact on stocks 1

Health Care▲ · 1 stocks

Theme Impact 1

Off-coverage companies 1

Ratchavej Ubon Ratchathani Co., Ltd.Private▲ Positive
Capitalrelevance

BCH will begin consolidating Rajavej Ubon Ratchathani Hospital's results from September 1, 2026, expanding its revenue base.

Related news

CVS Omnicare Wins Court Approval for Chapter 11 Liquidation

A Texas bankruptcy judge has approved a wind-down Chapter 11 plan for CVS Omnicare, the long-term care pharmacy subsidiary of CVS Health, after the company sold its business operations for $250 million and reached a $440 million settlement with the Justice Department over an improper billing case. Judge Stacey G. C. Jernigan of the U.S. Bankruptcy Court for the Northern District of Texas approved the plan, noting it received overwhelming acceptance from general unsecured creditors. Omnicare, which CVS has owned since 2015 and which serves nursing homes, assisted living centers, and long-term care and rehab facilities, filed for bankruptcy in September 2025, months after a $949 million judgment for fraudulently dispensing drugs without valid prescriptions to elderly and disabled patients. The government resolved that judgment through the $440 million settlement, which requires CVS to pay $130 million upfront and cover the remaining $310 million if Omnicare fails to pay by March 2028. The purchaser, GenieRx Holdings, is a joint partnership between Milrose Capital LLC and Integro Asset Management LLC, and Omnicare attorney Martha Wyrick of Haynes and Boone LLP said the sale is expected to close next month.
AMZNCVS
Aging Population
TheStreet·14hRead more →
▲

Healthpeak Raises 2026 Guidance on Portfolio Sales and Janus Living Growth

Healthpeak Properties raised its full-year 2026 guidance for the second time this year, now expecting diluted earnings per share of $0.48 to $0.52, up from $0.46 to $0.50, and diluted FFO as Adjusted of $1.73 to $1.77, two cents higher at the midpoint than its prior outlook. The healthcare real estate owner signed 1.6 million square feet of new and renewal leases in the quarter, lifting outpatient medical occupancy 20 basis points to 90.7% and lab occupancy 80 basis points to 78.5%. Growth was led by Janus Living, the senior housing operator Healthpeak controls with a 73.6% stake, where revenue jumped 45% year over year to $216 million and Adjusted EBITDA rose 34% to $79 million, with same-store margins expanding 250 basis points. Healthpeak funded buybacks and debt paydown largely by selling stakes in existing buildings, including July's recapitalization that sold a 49% stake in an 86-property outpatient medical portfolio to Brookfield for roughly $1.025 billion at a 5.9% cap rate, part of $1.4 billion of proceeds generated in the quarter and through August 3. Lab same-store net operating income fell 3.2%, the only one of Healthpeak's three core businesses to shrink, holding total company-wide same-store NOI growth to 1.8%.
DOC ▲JAN ▲BAM
Aging Population ▲
Insider Monkey·23hRead more →

Aevis Victoria H1 2026 NAV Rises 7% as Healthcare Margins Improve

Aevis Victoria reported a net asset value of CHF26.75 per share for H1 2026, up nearly 7% year-over-year and 2.3% versus the prior year-end level, while the discount to NAV remained above 50%, which management described as unprecedented in the group's history. Within the healthcare segment, Swiss Medical Network's EBITDA margin improved from 18.6% to 21.6%, and ambulatory services turned EBITDA-positive for the first time, with its margin rising from 7.1% to 11.8%. The company set a healthcare EBITDA margin target of 23% with organic growth of 2% to 3% per year, noting mature hospitals representing over 50% of the portfolio can reach more than 25% to 26% EBITDA margin while ramp-up hospitals sit at 10% to 20%. Interest expenses declined 43% year-over-year, consolidated net debt stood at CHF846 million with the bulk under Swiss Hotel Property, Swiss Medical Network's net debt-to-EBITDA was approximately 2.2x to 2.3x, and loan-to-value for the real estate business fell to 45%. Chief Financial Officer Michel Keusch cited three catalysts to narrow the discount to NAV: a next phase of value crystallization through selling stakes to strategic shareholders, including the officially announced search for strategic investors in Swiss Medical Network; enhanced investor relations with more roadshows, a Capital Markets Day and greater financial transparency; and a near-quintupling of average daily liquidity over the past two years.
AEVS.SW ▲
Aging Population
GuruFocus·1dRead more →
© 2026 MarketDXNews