Sharekhan has given Buy recommendation for Abbott India with a target price of Rs. 22,780 in its research report issued on Sep 02, 2022
Sharekhan’s research report on Abbott India
Abbott India Limited’s (Abbott) annual report for FY2022 mentions of performance reflecting the impact of pandemic pointing towards uncertain times. The company reported double-digit revenue as well as strong earnings growth during these challenging times backed by agile business model leading to minimal disruptions. Abbott identified critical areas to strengthen business model and foster customer relations, which involved leveraging digital platforms to improve access, expand portfolio depth and tapping different engagement channels.
Healthy growth prospects, a strong, debt-free balance sheet, and strong dividend payout are key positives. Based on this, we retain Buy on the stock with an unchanged PT of Rs. 22,780.