Morgan Stanley has initiated coverage on Dr. Agarwal’s Healthcare with an ‘overweight’ rating and a target price of ₹502, indicating an 18% upside from the current market price of ₹427.15. The brokerage highlights India’s eyecare industry as a high-growth sector, backed by a large total addressable market (TAM), strong entry barriers, and high returns due to its asset-light model.
Dr. Agarwal’s, a leading player in the segment, is supported by a doctor-promoter team and has revenues 1.7 times higher than its closest competitor. Morgan Stanley forecasts a 19% revenue and EBITDA CAGR for FY25-27, positioning the company well for sustained growth in the coming years.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to conduct their own research before making any investment decisions.
