"Strides Pharma is one of our preferred picks in the midcap space," Macquarie said.
Shares of Strides Pharma Science rallied 3.6 percent intraday on January 9 after Macquarie retained its bullish stance on the stock.
The stock surged 25 percent in last three months. It was quoting at Rs 391.45, up Rs 10.40, or 2.73 percent on the BSE at 1347 hours IST.
Macquarie has maintained outperform rating on the stock with a target price of Rs 525 per share, implying 37.8 percent potential upside from current levels.
The brokerage expects company's earnigs per share (EPS) to improve manifold over FY19-22.
"Strides Pharma is one of our preferred picks in the midcap space," the research house said.
Meanwhile, the company on January 8 said it appointed R Ananthanarayanan as Chief Executive Officer and Managing Director. He is also appointed as Key Managerial Personnel of the company, it added.Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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