Morgans key takeaway from 1Q results for Ramsay Health Care is improving conditions across all markets as the number of covid cases ease.

The broker raises its FY23-25 underlying earnings forecasts by 2.4%, 4% and 3.8%, respectively, and increases its target to $74.41 from $72.26. Add.

Management noted declining work force absenteeism and a slowing of turnover and is confident of a more normalised work force leading into 2023.

Sector: Health Care Equipment & Services.

Target price is $74.41.Current Price is $59.06. Difference: $15.35 - (brackets indicate current price is over target). If RHC meets the Morgans target it will return approximately 21% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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