IIFL Securities's Stock Pick Today: Buy Fortis Healthcare with Target Rs 645
Best Stock to Buy Today : IIFL Securities has buy call on Fortis Healthcare with a target price of Rs 645. The current market price of Fortis Healthcare is Rs 626.35.
On October 31, IIFL Securities issued a buy recommendation for Fortis Healthcare, setting a target price of Rs 645. This call indicates a potential upside of approximately 3% from the current market price of Rs 626.35. Investors are advised to consider the company's fundamentals, industry trends, and overall market sentiment before making any investment decisions.
About Fortis Healthcare:
Fortis Healthcare Limited is a leading integrated healthcare provider in India. It operates its healthcare delivery services in India, Dubai, Mauritius and Sri Lanka with 36 healthcare facilities (including projects under development), over 4000 operational beds and over 400 diagnostics centres. The company focuses on providing a complete spectrum of integrated healthcare services across the continuum of care, including diagnostics, primary care, secondary and tertiary care, quaternary care and home healthcare. Fortis Healthcare is listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) in India.
52 Week Price Trend:
Fortis Healthcare (NSE: FORTIS) has witnessed a significant increase in its stock price, currently trading at Rs 626.35, a notable jump from its 52-week low of Rs 245.4. The stock has outperformed the market during this period, indicating positive investor sentiment. However, the stock still trails behind its 52-week high of Rs 469.7, leaving room for further potential growth.
Stratzy's MOST Analysis:
Stratzy's MOST Framework has assigned Fortis a BB rating, indicating medium fundamental risks. This rating considers Fortis's management, outlook, safety, and trend. The framework evaluates each pillar to derive an overall score, with A, B, and C representing low, medium, and high risks, respectively. Fortis's BB rating suggests that while it has some strengths, it also faces certain challenges or uncertainties. This rating helps investors identify potential investment risks and make informed decisions based on their risk tolerance.
Company's Fundamentals:
Fortis Healthcare (NSE: FORTIS) is a healthcare company listed on the National Stock Exchange of India (NSE). The company's stock currently trades at a price-to-earnings (PE) ratio of 60.64, indicating that investors are paying ₹60.64 for every ₹1 of earnings. The price-to-book (PB) ratio of 4.27 suggests that the company's market value is over four times its book value. Despite the high PE and PB ratios, the company offers a dividend yield of only 0.23%, which is relatively low compared to other companies in the sector.
Fundamental and Technical information provided in this blog were last updated on 31 Oct, 2024
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