Stock Today: Slow Climb For Sunway As Trading Interest Holds
Shares of Sunway Bhd rose slightly to RM4.69 in active afternoon trading, up 0.64% or 3 sen from the previous close, as investors digested recent updates on the group's healthcare expansion and earnings outlook.
At 3.20pm, the counter saw a trading volume of 3.7 million shares, with prices fluctuating between RM4.67 and RM4.74 during the day. Buy and sell queues were relatively balanced, with more than 200,000 shares on the buy side and over 790,000 on the sell side.
The modest uptick comes amid a reaffirmed neutral call from MIDF Research, which maintained its target price at RM4.86. While Sunway's healthcare segment is expected to benefit from upcoming EPF Account 2 withdrawal policies for health insurance, analysts said the stock's near-term upside is limited.
The research house also highlighted that the group's strong FY24 performance driven by Singapore contributions is likely to normalise in FY25, with healthcare profit before tax share declining due to startup and pre-operational costs at new hospitals.
Still, with ongoing hospital developments in Putrajaya and planned expansion to 3,000 beds by 2030, investors appear cautiously optimistic, keeping the stock in focus as a long-term growth play. Related
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