FPH’s report in May was well received by the market, as earnings growth really kicked up a notch driven by double-digit revenue growth in Hospitals and Homecare, along with solid expansion in margins. Guidance was also strong, around 8% above consensus at the time and it seems to MM that continued pent-up demand will continue to support near-term revenue growth. While the stock is not our preferred pick in the sector as it approaches $29, but it does lend weight to our bullish sector stance.
- We can see FPH trading above $30 in the 2nd half of 2024.
MM is cautiously bullish towards FPH
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