Manipal Hospitals’ aggressive acquisition strategy is now entering the payoff phase. Jefferies initiated coverage on the hospital chain with a Buy rating, saying its scale, geographical reach and ability to improve acquired assets could drive a 46% compound annual growth rate in profit through FY29.
The brokerage set a price target of Rs 870, implying 21% upside from the stock’s previous closing price of Rs 718.40. It expects Manipal’s revenue and EBITDA to grow at compound annual rates of 17% and 19%, respectively, between FY26 and FY29.
