Fortis Healthcare share price hits 52-week high; Goldman Sachs maintains ‘buy’

Stocks

The share price has risen more than 90 percent in the last year

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Fortis Healthcare share price touched a 52-week high of Rs 265.75, rising 3 percent in the early trade on August 17.

Research house Goldman Sachs has maintained a buy call on the stock with a target at Rs 295 a share. It has raised FY23-24 EPS estimates by up to 13 percent while retaining a constructive view.

There is an improving mix in the hospital occupancy and B2C push in diagnostics leading to narrow operating metrics gap versus the peers. However, there’s a scope for turning around laggard hospitals, it added.

The share price of the hospital chain has risen more than 90 percent in the last year.

fortis

At 0936 hours, Fortis Healthcare was quoting at Rs 262.70, up Rs 5.25, or 2.04 percent, on the BSE.