ICICI Direct has given Buy recommendation for Syngene International with a target price of Rs. 780 in its research report issued on Jul 22, 2021
ICICI Direct’s research report on Syngene International
Syngene is an innovation-led contract research, development and manufacturing organisation offering integrated scientific services from early discovery to commercial supply.It is one of the largest listed contract research organisations (CRO) in India Revenue breakup: Discovery services (35%), dedicated services (32%), development and manufacturing (33%)
Outlook
Due to the structural story of outsourcing, we remain positive and retain our BUY rating We value Syngene at Rs 780 i.e. 50x P/E on FY23E EPS