Buy Biocon; target of Rs 470: Sharekhan
Sharekhan is bullish on Biocon has recommended buy rating on the stock with a target price of Rs 470 in its research report dated January 22, 2021.
February 01, 2021 / 06:36 PM IST
Sharekhan's research report on Biocon
Q3FY2021 was a weak quarter as COVID-19 disruptions led to procurement and supply chain delays, and also affected Biocon’s planned market expansion initiatives. Biocon sees this as a short-lived phenomenon and expects businesses to regain normalcy by FY2022. Biologics segment is expected to be a critical growth driver and the company is well placed to harness the growth opportunities. Better growth prospects, healthy balance sheet and lower debt-equity augur well for company. Possible listing of subsidiary – Biocon Biologics points towards significant value unlocking potential.
We retain a Buy on Biocon Limited with a revised PT of Rs. 470.
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