India's Apollo Hospitals hits record high on bets of breaking even in Q4

Max Healthcare Institute

18/01/2024 07:10

** Shares of Apollo Hospitals  APLH.NS  rise as much as 1.7%
to an all-time high of 6,028.95 rupees 
    ** Nomura maintains "buy" rating while raising PT to 6,724
rupees from 5,796 rupees, a 13.5% premium to its last close
    ** APLH on track for fourth straight session of gains; stock
adds 3.5% so far this week  
    ** Brokerage expects Healthco, Apollo's pharmacy and 24x7
platform, to achieve EBITDA break-even in Q4FY24 
    ** Adds, market share shift and store expansions to result
in 20% growth for APLH
    ** APLH trading 1.6% above its median PT of 6,097.50 rupees
- LSEG
    ** Analysts' avg rating on APLH, rivals Max Healthcare
 MAXE.NS  and Fortis Healthcare  FOHE.NS  at "buy" - LSEG
    ** APLH's 27% climb in 2023 lags MAXE's 56% and FOHE' ~47%
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 (Reporting by Kashish Tandon)
 ((kashish.tandon@thomsonreuters.com))