India's Aster DM Healthcare hits record high; HSBC hikes TP

Aster DM Quality Care

04/07/2023 08:37

** Shares of India's Aster DM Healthcare  ATRD.NS  rise as
much as 10.3% to hit a record high of 316.60 rupees
    ** HSBC Global Research keeps "buy" rating but raise its
target price to 330 rupees from 264 rupees
    ** Says strong revenue growth to continue, but new
hospitals' losses to impact margins
    ** Says should the sale of Aster's Gulf-based business
occur, it would boost the balance sheet
    ** Adds stock now appears to reflect some possibility of
restructuring, which brokerage believes will unlock value
    ** Trading vol at 8X their 30-day daily moving avg
    ** 9 of 10 brokerages rate the stock "buy" or higher and 1
"hold"; their median PT is 297.50 rupees - Refinitiv data
    ** ATRD up 24.17% this year, as of last close

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))