UBS has maintained its ‘Buy’ rating on Max Healthcare Institute Ltd, while raising the target price to ₹1,350, implying an upside of 18% from the current market price of ₹1,144.00 (as of latest close).
The brokerage described the Q4 FY25 performance as impressive and expects the momentum to improve further in the coming quarters. UBS highlighted that Max plans to add 1,200 beds—a 25% increase over current capacity—primarily through brownfield expansions in FY26, which should fuel the next leg of growth.
UBS also noted that there is scope for consensus earnings upgrades and believes that Max Healthcare can continue to command premium valuation multiples, given its strong execution, high-margin portfolio, and scalable growth strategy.
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