ICICI Direct has given Hold recommendation for Abbott India with a target price of Rs. 21140 in its research report issued on Aug 16, 2022
ICICI Direct’s research report on Abbott India
Abbott India is one of the fastest growing listed MNC pharma companies. It has outperformed the industry on a consistent basis in women’s health, GI, metabolic, pain, CNS among others. The company’s top five brands – (Mixtard, Thyronorm, Novomix, Udiliv and Duphaston) together posted revenue CAGR of ~6.6% MAT, March 2019-22 • Abbott has 140+ brands in segments of women’s health, gastroenterology, metabolics, CNS, multi-specialty, vaccines & consumer health.
Downgrade from BUY to HOLD as valuations at current level largely factor power brands growth momentum and growing traction for new brands. Valued at Rs 21140 i.e. 40x FY24E EPS of Rs 528.6.