New Delhi. Brokerage house Jefferies is now looking bullish on the shares of Hospitals. The company has said that the hospitals included in its coverage are increasing their capacity. Also the recent decline has made the sector more attractive.
The brokerage house has given buy rating to Fortis Healthcare at Rs 273, Max Healthcare Rs 425 and Apollo Hospitals with a target price of Rs 4461.
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The brokerage said, “Fortis is our preferred stock among Indian hospitals. The main reason for this is the company’s low valuation and capacity-based growth. The brokerage has described the stock of Fortis as better than Max and Apollo. Jefferies has said that Fortis is currently trading at a discount of 28-32 per cent to Max and Apollo and hence they have retained their buy rating. The stock of Fortis is trading at Rs 235 with a gain of about 4 per cent on NSE on Tuesday. Fortis is a multinational hospital chain headquartered in Gurugram, Haryana. It was established in 1996.
The brokerage has said that the bed occupancy level of Max Healthcare will reach 76 per cent in FY24. This will increase the company’s income by an additional $1 billion. The biggest source of income for Max will be cash patients and TPA patients. Shares of Macky Healthcare are trading close to Rs 364 on NSE on Tuesday. Its headquarter is in New Delhi and it was established in 2001.
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The brokerage says that Apollo Hospitals has been trying to raise funding for its pharmacy and digital business and other ancillary units for several years. However, now the hospital has put these plans in cold storage. Due to which the valuation of its business segment has become difficult. Apollo Hospitals is trading at Rs 3817. It is the most expensive of these three stocks. The headquarter of the company is in Chennai. It was established in 1983. That is, it is the oldest of these hospitals. Apart from South Asia, it also provides its services in the Gulf regions.
Tags:, Share market, Stocks
FIRST PUBLISHED : June 21, 2022, 11:23 IST