Buy Abbott India; target of Rs 34,470: Mirae Asset Sharekhan

Mirae Asset Sharekhan's research report on Abbott India

Abott India, one of India’s top pharma MNCs, leads across therapies and has over 20 brands with a revenue of Rs 100 crore and above. Marketing & distribution of Novo Nordisk’s GLP – 1 in India is a near-term growth trigger. Legacy portfolio with strong brand recall helps maintain revenue growth while healthy product mix and lower input cost helped margins rise.

Outlook

Given the company’s strong parentage, robust financials and strong track record, we value the stock at a five-year average one-year fwd P/E of 40.9x on FY27E EPS of Rs. 843 to arrive at a PT of Rs. 34,470.

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