Max Healthcare shares get an upgrade, target raise from HSBC despite near-term challenges
Published on 23/03/2026 09:11 AM
Max Healthcare shares get an upgrade, target raise from HSBC despite near-term challengesAccording to HSBC, a robust growth outlook and strong execution are likely to outweigh near-term challenges such as the loss of key doctors and disruptions related to medical value travel (MVT).By Meghna Sen March 23, 2026, 9:11:58 AM IST (Published)2 Min ReadShares of Max Healthcare Institute Ltd. are in focus on Monday, March 23, after brokerage firm HSBC upgraded the stock and raised its target price.
HSBC upgraded the stock to a 'Buy' rating and increased its target price to ₹1,125 from ₹1,060 earlier. The revised target implies a potential upside of 17% from current levels.
The brokerage said Max Healthcare has multiple growth drivers that could support strong earnings expansion.
It added that a robust growth outlook and strong execution are likely to outweigh near-term challenges such as the loss of key doctors and disruptions related to medical value travel (MVT).
HSBC mentioned several positives, including the planned addition of 2,240 beds, implying a 43% capacity expansion between now and FY28, with around 60% coming from brownfield projects.
It also expects economies of scale benefits from these additions, along with a ramp-up in recently launched large-format hospitals in Noida and Dwarka.
In addition, access to a large pool of Central Government Health Scheme (CGHS) patients is aiding faster occupancy ramp-up and helping cover fixed costs at new facilities.
The brokerage has factored in an earnings per share compound annual growth rate of 28.5% over FY26 to FY28.
Of the 26 analysts covering the stock, 20 have a 'Buy' rating, two recommend 'Hold', and four have a 'Sell' rating.
Shares of Max Healthcare Institute Ltd. ended 0.93% higher at ₹962 on Friday and are down 17% over the last six months.Continue ReadingNote To ReadersDisclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.TagsMax HealthcareMax Healthcare Instituteshare market today