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

 

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