Mumbai, Feb. 18 -- The broker revised its rating on the healthcare chain from "Neutral" to "Buy" and increased the target price to Rs 1,200.

The brokerage's optimistic outlook is based on Max Healthcare's robust earnings growth potential, underpinned by strong fundamentals. According to the report, the company's ambitious plan to double its bed capacity within the next three years is a key driver for future growth. The company's asset-light model distinguishes it as a leader in the healthcare sector, allowing for efficient expansion and profitability, it added.

Max Healthcare Institute is one of India's largest healthcare organizations. It operates 22 healthcare facilities (5,000+ beds) with a significant presence in North India.

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