** Shares of Australia's Ramsay Healthcare RHC.AX rise 1% to A$36.03
** Analysts at Morgan Stanley lift PT on the hospital operator to A$37.4 from A$37.2; maintain "equal-weight" stock rating
** Brokerage flags that an increase in payout ratio for Australian private health insurance companies may be used by private health operators like RHC to offset increased wages
** Morgan Stanley acknowledges potential upside from Ramsay divesting its stake in French affiliate Ramsay Sante
** Stock up 4.2% YTD
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))