Sharekhan has given Buy recommendation for Abbott India with a target price of Rs. 22,780 in its research report issued on May 17, 2022

Sharekhan’s research report on Abbott India

Q4Fy22 was a strong quarter for Abbott with the revenues and PAT staging a 14.6% and 38.7% yoy growth and the results were ahead of estimates. Abbott’s revenues and PAT going ahead, are expected to stage a double digit growth driven by multiple growth drivers backed by a double digit growth in the IPM as well as from product portfolio expansion, ramp up of recent launches and leveraging digital platform. Healthy growth prospects, a strong, debt-free balance sheet and strong dividend pay-out are key positives and would enable to sustain the premium valuations.

Outlook

We maintain the Buy recommendation on Abbott India (Abbott) with an unchanged PT of Rs. 22,780.

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