ICICI Direct has given Buy recommendation for Abbott India with a target price of Rs. 20560 in its research report issued on May 18, 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.
Maintain BUY rating due to 1) strong power brands, 2) focused approach in key growth therapies, 3) growing traction for ex-top 10 brands (up 17% YoY). Valued at Rs 20560 i.e. 40x P/E on FY24E EPS of Rs 514.