- Broker sees scope for multiple rerating as group builds scale through acquisitions
RBC Capital has raised its target price on Optima Health PLC (AIM:OPT) to 220p from 215p following the company’s latest acquisition in the Republic of Ireland, saying the deal strengthens its position in the occupational health market and supports its wider growth strategy.
The broker expects Optima to remain acquisitive, using targeted deals to expand its platform and reinforce its credentials as a leading provider of workplace health services.
Analysts pointed to the group’s favourable regulatory tailwinds, a loyal customer base, and solid top-line growth as reasons for its resilience, even in the face of broader market downturns.
RBC values Optima at 10.8 times forecast 2025 adjusted EBITDA, up from the previous multiple used in its model.
At current trading levels (around 8 times 2025 estimates) the firm sees room for the shares to rerate, especially as Optima continues to deliver on its buy-and-build strategy.
Peers in insurance and health services trade closer to 9.3 times, while more acquisitive companies in adjacent sectors are valued at nearer 12.8 times.
In afternoon trading, the shares were flat at 176.51p.