Australia's Ramsay Health Care jumps; J.P. Morgan ups rating on France funding pact

Ramsay Health Care

04/06/2024 06:22

** Shares of Ramsay Health Care  RHC.AX  rise as much as
5.3% to A$49.47, posting their biggest intraday percentage gain
since Feb. 29
    ** Analysts at J.P. Morgan upgrade their rating on
healthcare provider to "neutral" from "underweight"
    ** Ramsay Generale de Sante  GDSF.PA , RHC's French unit, on
Monday announced an agreement between the French government and
federation of private clinics and hospitals for funding of
private hospitals
     ** "A commitment from the French government to treat public
and private hospitals equally and to establish a multi-year
tariff agreement should make Ramsay's European operations more
saleable" - J.P. Morgan
    ** Brokerage adds the adjusted treatment of tax credits
under agreement should boost RHC's earnings from French
operations in 2024
    ** Four analysts rate stock "buy", 10 "hold" and two "sell";
their median PT is A$56.55 – LSEG data
    ** Stock down 10.7% YTD, based on last close

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))