Al Noor Share Discussion Threads

[gucci] 25/9/2014 16:19

nice blue in a sea of red

[gucci] 25/9/2014 09:13

Next leg up started

[gucci] 25/9/2014 09:13

Next leg up started

[gucci] 25/9/2014 09:13

Next leg up started

[gucci] 25/9/2014 09:12

Next leg up started

[gucci] 24/9/2014 09:42

bought back yesterday

[gswredland] 19/9/2014 07:48

will grab some more at just under a 1000. 8.50 seems too optimistic to me unless markets tank, but you never know eh sanks..

[sanks] 18/9/2014 19:15

I.m looking at 8.50

[gucci] 17/9/2014 13:24

yep
hopefully 9.80

[philo124] 17/9/2014 09:39

Getting nearer.

[philo124] 10/9/2014 12:35

I think I would buy then.

[gucci] 10/9/2014 10:36

back to 1000p?

[gucci] 28/8/2014 08:40

out for now, falling back

[gswredland] 27/8/2014 19:57

Wonder what is going on!!

[gucci] 22/8/2014 09:59

good looking chart here

[philo124] 15/8/2014 09:52

Well done. Just hold NMC at the mo.

[gucci] 15/8/2014 09:22

hello PHIL0124, got back in this week

[philo124] 22/7/2014 16:17

Anyone still in here?

[philanderer] 24/6/2014 11:24

FT Alphaville today

Investec note:

Some quick Al Noor grey for Tom

BE
Oh, go ahead.

PM
Al Noor is the market leader in the private healthcare industry in Abu Dhabi, a market we expect to grow by c.15% per year due to an expanding economy, positive demographics and increasing incidence of lifestyle conditions. Importantly, the government is supportive of healthcare and is focused on creating world leading infrastructure with the help of private operators. Al Noor is poised to benefit from market growth with further upside from expansion outside Abu Dhabi. We initiate at Buy with a 1170p target price.

Solid underlying growth drivers: We believe healthcare market growth of up to 15% will continue in Abu Dhabi driven by supportive demographics, rising incidence of lifestyle conditions (such as diabetes and obesity) and a well-funded, government-backed mandatory health insurance scheme.

Market leading position: Al Noor is well positioned to benefit from underlying market growth with a 6% share of all hospital beds and a 20% share of private hospital beds in Abu Dhabi. We anticipate further expansion of the company's existing hospitals, adding 40 beds in 2016E, and the opening of two new outpatient clinics per annum.

Expansion opportunities outside Abu Dhabi: Having conquered its home market, Al Noor is now poised to enter neighbouring Emirates, and benefit from similar structural growth trends. Our model assumes no activities outside Abu Dhabi (aside from existing operations); however, reaching a 10% share in Dubai would raise EPS by 10-20% depending on market growth assumptions.

Strong cash generation and earnings growth: Al Noor shares have traded well since the IPO, outperforming the FTSE All Share by 60%. The stock now trades on a 2015E PE of c.19x, a 17% discount to the global peers despite similar EPS growth (17.1% CAGR for FY13-16E). With 80% cash conversion in FY13, Al Noor is well placed to make acquisitions to boost growth further. We initiate at Buy with a 1170p target price (blend of PE and DCF).

PM
Done
PM

Cora McCallum , Investec

[mmmmdonuts] 14/4/2014 23:58

Big drop today... Anyone know why?

[philo124] 02/4/2014 08:14

Out at £11.99.

[philo124] 01/4/2014 16:31

Good oh! Didn't buy enough but up c£2.50 at the moment, so shouldn't complain.
Thanks IC.

[philanderer] 01/4/2014 16:31

Well done guys , I still just sat watching :-S