Redeye: Medicover - Fundamentally Strong, Defensive Investment
Redeye reiterates its fundamentally positive stance on Medicover and raises estimates and valuation following strong full-year 2019 results. Most importantly, we believe the top line will grow at a good pace going forward and are looking for organic growth of +14% per year. As the successful Indian acquisition will be fully consolidated this year, 2020 revenues are likely to jump an impressive 33% surpassing EUR 1bn. We also highlight the defensive qualities of the Medicover case in the current market environment and look at Medicover’s various locations in India, the Indian economy and