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Morgan Stanley cuts Fortis Healthcare to 'underweight'

Last Updated: Thursday, August 29, 2013 - 11:21

New Delhi: Morgan Stanley downgrades Fortis Healthcare Ltd 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.

Shares in Fortis Healthcare were down 1.48 percent at 1046 IST.


First Published: Thursday, August 29, 2013 - 11:21
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