Sharekhan has given Buy recommendation for Biocon with a target price of Rs. 470 in its research report issued on Oct 22, 2021

Sharekhan’s research report on Biocon

Biocon’s Q2FY22 results were healthy but the operating performance marginally missed estimates. Due to higher other income, the adjusted PAT was ahead of estimates Reducing impact of pandemic and expected improvement in supply chain systems bodes well for all three segments – Generics, Biosimilars and research services from a growth perspective. Expected strong traction in biologics, driven by focus on oncology and insulin portfolio, new tie ups facilitating entry in new areas of vaccines & communicable diseases make biologics a key growth driver.

Outlook

We retain Buy on the stock of Biocon with an unchanged price target (PT) of Rs. 470.

Leave a Reply

Your email address will not be published. Required fields are marked *