Australia's Ramsay Health Care hits 2-1/2-year high; Morningstar upbeat after annual results
BUZZ-Australia's Ramsay Health Care hits 2-1/2-year high; Morningstar upbeat after annual results ** Shares of Australia's Ramsay Health Care RHC.AX rise as much as 1.1% to A$53.8, their highest level since April 10, 2024
** Morningstar says activity growth and higher acuity for RHC Australia helped with an 8% revenue gain in annual results, also says company faced low costs to manage staffing
** The equity research firm says annual results were better than expected, driven by higher earnings before interests and taxes (EBIT) margins
** Adds Ramsay Health is guiding for EBIT, EBIT margin expansion in Australia and the UK in FY27
** Says market is pricing in reasonable outlook for margins, forecasts group EBIT margin expansion to 8% within five years
** Morningstar maintains its fair value estimate for co of A$54 per share
** YTD, stock up nearly 55%
(Reporting by Aamir Sheik Khalid in Bengaluru)
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