Sharekhan has given Buy recommendation for Strides Pharma Science with a target price of Rs. 1020 in its research report issued on Feb 04, 2021
Sharekhan’s research report on Strides Pharma Science
Q3FY2021 was a weak quarter for Strides on the back of weak flu season, & price erosion in US markets and one off expenses. The results missed estimates. Healthy growth in the base business and strong product launch pipeline provides ample visibility for growth of the US business. Growth prospects in other regulated markets are also likely to get better, led by new product launches, increased market share, and portfolio optimization efforts. Strong growth prospects and earnings visibility, improving balance sheet strength, and healthy return ratios would support multiple re-ratings.
Outlook
We retain Buy recommendation on Strides Pharma Sciences (Strides) with a revised PT of Rs 1,020.
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