APN:SJ
We initiate coverage with a one year target price of R185/share using a multiple based approach and assuming an approximate 25% increase in basis earnings per share (EPS). Aspen’s strong management team, improving balance sheet and strong revenue prospects point to an impressive comeback that we think is not reflected in the current share price.
Elective surgeries, which are a key revenue driver for Aspen, are expected to resume as activities begin to return to some sort of normal and the number of people to receive the coronavirus vaccine increases. The COVID-19 vaccine also presents annuity income for pharmaceutical companies as the variations of the virus emerge in different parts of the globe. The COVID-19 pandemic has also re-prioritised healthcare to communities and governments alike To read more
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