Capitol Health on the prowl

Further share price growth depends on the diagnostic imaging company making an accretive acquisition interstate … at least for the short term.

Since initially calling Capitol Health (CAJ) as a “buy” July 2, the stock has run up from 42 cents to a high of 72 cents and closed at 64 cents today. Although the share price movement has been in our favour it is currently a tough one to call in the 60-70 cents range.

When I initially recommended CAJ the valuation was 54 cents. This valuation didn’t assume further acquisitions or an entry into the NSW and/or Queensland diagnostic imaging market.

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