Cavendish raised its price target on Optima Health PLC after full-year profit beat forecasts. The occupational health provider reported adjusted EBITDA of £20.1 million for the year to March, about 12% above Cavendish's estimate and 10% ahead of market expectations. Cavendish lifted its target to 302p from 271p, reiterating a buy rating. The result included £4.7 million from a DWP procurement dispute settlement, but underlying margins improved to 15.4% in the second half from 10.1% in the first. Optima completed its £100 million acquisition of PAM Healthcare in March, and management reiterated medium-term goals of £200 million revenue and £40 million adjusted earnings.
Optima Health plcFull-year profit beat forecasts and price target raised to 302p.
Cavendish plcAcquired by Optima Health, contributing to its results and growth plans.
