Shares in Bumrungrad Hospital Pcl rose as much as 3.6 percent to a record high as sentiment for hospital stocks gained support from a listing plan by Malaysia's IHH Healthcare Bhd, brokers said.
Bumrungrad shares were up 3.3 percent at 71 baht, climbing at one point to 71.25 baht.
Bumrungrad stock had surged 52 percent so far this year, outperforming a 17.7 percent rise by its peer Bangkok Dusit Medical Services Pcl, a 32.8 percent climb of Bangkok Chain Hospital and a 12 percent gain of a broader stock market.
"The listing plan by IHH has, to some extent, brought in some of buying interest in the domestic hospital stocks which have relatively cheaper valuations," said an analyst at broker Kiatnakin Securities.
"Bumrungrad is more attractive because of its valuation, growth and returns on equity. But the stock price is kind of fully valued now," the analyst said of its target price of 59 baht.
Bumrungrad traded at 25 times forward price-to-earnings, compared with 26.3 times of Bangkok Dusit Medical Services, the broker said.
1527 (0827 GMT) (Reporting by Viparat Jantraprap in Bangkok; email@example.com)