 "Nomura upgrades Fortis Healthcare to \"buy\"")
Nomura upgraded Fortis Healthcare to “buy” from “neutral”, but cut its target price to Rs 124 from Rs 170, citing recent underperformance and improvement in return ratios.
“Near-term ROE (Return on equity) is low at 1-3 percent but we expect average incremental ROE over the next five years to be 33 percent,” said Nomura in a report.
[caption id=“attachment_749319” align=“alignleft” width=“380”] The investment bank added that in its view Fortis has come to the end of an investment cycle and will now focus on cash flows and profitability.Reuters[/caption]
STORY CONTINUES BELOW THIS AD
The investment bank added that in its view Fortis has come to the end of an investment cycle and will now focus on cash flows and profitability.
More from Fwire
Reuters
End of Article
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
 "Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?")
 "As Russia pushes east, Ukraine faces mounting pressure to defend its heartland")
 "Why Mossad was not on board with Israel’s strike on Hamas in Qatar")
 "Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe")
