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Sigma Healthcare (SIG AU): Merger Uncertainty To Limit Upside Potential
445 Views27 Mar 2024 01:30
SUMMARY
- Sigma Healthcare (SIG AU)'s proposed merger with Chemist Warehouse Group is being reviewed by Australian Competition and Consumer Commission (ACCC), with decision expected in 2H24.
- Although Sigma is witnessing continuing momentum in its business (YTD sales are up by 6.6% YoY) and reaffirmed EBIT margin guidance, merger uncertainty overshadows the improved financial performance.
- We think near-term positives of the company have already been priced in, thereby limited room for upside potential. Merger uncertainty will remain an overhang on the share prices.
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