Buy Syngene International; target of Rs 780: ICICI Direct
ICICI Direct is bullish on Syngene International has recommended buy rating on the stock with a target price of Rs 780 in its research report dated July 22, 2021.
July 28, 2021 / 10:08 AM IST
ICICI Direct's research report on Syngene International
Syngene is an innovation-led contract research, development and manufacturing organisation offering integrated scientific services from early discovery to commercial supply.It is one of the largest listed contract research organisations (CRO) in India Revenue breakup: Discovery services (35%), dedicated services (32%), development and manufacturing (33%)
Due to the structural story of outsourcing, we remain positive and retain our BUY rating We value Syngene at Rs 780 i.e. 50x P/E on FY23E EPS
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