Nomura has maintained a buy rating on Fortis Healthcare, with a target price of ₹700 per share, indicating an upside potential of approximately 8% from its current market price (CMP) of ₹646.
The brokerage highlighted that overall revenue was 2% above estimates, driven by hospital revenue, which came in 3% higher than expected, while the diagnostics segment revenue was in line. However, consolidated EBITDA fell short by 3%, primarily due to higher one-time branding-related expenses in the diagnostics business.
Despite this, net earnings surpassed estimates, aided by lower-than-expected taxes and exceptional gains. Nomura remains positive on Fortis Healthcare’s growth trajectory, particularly in the hospital segment, which continues to drive revenue expansion.
With Nomura’s target of ₹700, Fortis Healthcare remains an attractive bet in the healthcare sector, backed by steady revenue growth and operational resilience.
(Disclaimer: This article is for informational purposes only and should not be considered as investment advice. Investors are advised to do their own due diligence before making any investment decisions.)
