Emkay Global Financial has given Buy recommendation for Star Health with a target price of Rs. 945 in its research report issued on May 04, 2022

Emkay Global Financial’s report on Star Health

Star Health reported an impressive set of numbers in Q4FY22, with the combined ratio of 98.4% marking its return to a below 100% combined ratio sooner than our expectations. With management commentary suggesting an encouraging claims ratio trend for Q1FY23, we are increasingly confident of the company hitting a ~95-96% combined ratio in FY23. With Covid-19-led abnormalities in the business behind, by leveraging its moat, STAR Health will embark on a long-term profitable growth journey.

Outlook

We reiterate our Buy rating on the stock with a revised TP of Rs945.

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