Edelweiss is bullish on Apollo Hospitals has recommended buy rating on the stock with a target price of Rs 1540 in its research report dated May 15, 2017.
Edelweiss' research report on Apollo Hospitals
Set up at total planned capex of INR5bn, the Navi Mumbai facility is APHS’ most significant green-field tertiary care investment in past few years. Currently, 100 beds are operational and 100/150/150 more beds will be added during FY18/19/20, respectively. Most of the specialities are also ramping up well.
We estimate 22% EBITDA CAGR and RoCE to jump by 377bps to 12.5% over FY17-19, implying valuation of 17x FY19E EV/EBITDA. Maintain ’BUY/SO’ with TP of INR 1,540.
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