First Berlin – MPH Health Care AG Research Update (16/09/2020)

First Berlin Equity Research has published a research update on MPH Health Care AG (ISIN: DE000A0L1H32). Analyst Ellis Acklin reiterated his BUY rating and maintained his EUR 7.50 price target.

Abstract
Six month reporting reflects the mixed share price performance of the three core listed holdings. HAEMATO and CR Capital shares have rebounded from covid-19 lows but have not recaptured YE19 levels, while M1 Kliniken shares have drifted lower again since the post-lockdown recovery. Underlying business performance remains strong at all three companies. HAEMATO and CR Capital operated without interruption, while M1 is benefitting from strong post-lockdown beauty treatment demand. Our rating remains Buy with an unchanged €7.5 price target.