Morgan Stanley cuts Fortis Healthcare shares to ‘underweight’,cuts target price

Shares in Fortis Healthcare down 0.4 percent.

Written by Reuters | Published: August 29, 2013 2:51 pm

Morgan Stanley downgrades Fortis Healthcare shares to “underweight” from “equal-weight” and cuts its target price to 88 rupees from 124 rupees,saying an improvement in margins/returns will take time as leverage remains high despite the company’s efforts to raise funds.

Fortis Healthcare sells entire stake in Vietnam hospital chain for $80 mn

Shares in Fortis Healthcare down 0.4 percent.

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