DHG [M-PF +6.8%] - Tax savings to cushion earnings over next three years - Update
  • 27 Feb 2017
  • Company Research
We reiterate our MARKET PERFORM rating despite revising our TP by +13% due to lower effective tax rate projections, DCF rollover, and a 60 bps reduction in WACC. We expect sales to grow 13% vs FY16 aided by antibiotics, painkillers and vitamin supplements