The global brokerage firm maintained its ‘Buy’ call for Fortis Healthcare with an updated twelve month forward target price of Rs 547, a 12 per cent upside to Monday’s close

Nomura ups target price for Fortis, sees 12% upside; reiterates ‘Buy’

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Key Stocks In Focus: IndiGo, HCLTech, Fortis Healthcare, Honasa Consumer, Bikaji, JK Lakshmi Cement

Around 900 companies will announce their quarterly results this week.

Q4 Results Today: Indigo, ITC, Bikaji Foods, Fortis Healthcare Among 180+ Companies To Report Earnings

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Key Stocks In Focus: Kesoram Industries, Fortis Healthcare, MapMyIndia, Sterlite Tech, Syrma SGS

Fortis Healthcare Q2 results: The hospital operator reported revenue at Rs 1,770 crore, reflecting a year-on-year rise of 10 percent from Rs 1,607 crore.

Fortis Healthcare Q2 results: Net profit down 16% at Rs 184 crore

The report is based on the agency’s sample of nine listed hospital chains -- Apollo Hospitals, Aster DM Healthcare, Fortis Healthcare, Healthcare Global Enterprises, Krishna Institute of Medical Sciences, Max Healthcare, Narayana Hrudayalaya, Rainbow Children’s Medicare and Shalby Hospital.

Corporate hospitals to see 8-10 pc revenue growth in FY24: Report

Prabhudas Lilladher is bullish on Fortis Healthcare has recommended buy rating on the stock with a target price of Rs 365 in its research report dated August 07, 2023.

Buy Fortis Healthcare; target of Rs 365: Prabhudas Lilladher

ICICI Securities is bullish on Fortis Healthcare recommended buy rating on the stock with a target price of Rs 390 in its research report dated August 08, 2023.

Buy Fortis Healthcare; target of Rs 390: ICICI Securities

The decline in Q1 bottomline for Fortis Healthcare came on the back of lower occupancy and an unfavourable payor mix.

Fortis Healthcare falls 2% as net profit declines in Q1

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Stocks to watch on August 7, 2023

The company’s consolidated revenues in the first quarter stood at Rs 1,657 crore against Rs 1,488 crore in the year-ago period, a growth of 11.4 percent.

Fortis Healthcare Q1 results: PAT falls 8.6% to Rs 122.5 crore, revenue grows 11.4%

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Fortis Healthcare Limited is an integrated healthcare delivery service provider. The Company is engaged in establishing, administering hospitals, diagnostic centers and research centers.