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Buy Biocon: target of Rs 420: Sharekhan

Sharekhan is bullish on Biocon has recommended buy rating on the stock with a target price of Rs 420 in its research report dated April 29, 2022.

April 30, 2022 / 10:13 PM IST
 
 
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Sharekhan's research report on Biocon


Biocon reported strong numbers and results were in line with estimates. The Biologics segment drove the strong show, while generics and research services also staged a double digit growth. Biocon has laid a strong platform for growth of biosimilars in insulin and oncology franchise across its key markets. Strong growth outlook for biosimilars, expected improvement in generics segment and a healthy growth in the research services segment would be key growth drivers for Biocon. Possible listing of Biocon Biologics would provide value unlocking opportunity for the investors.


Outlook


We retain Buy on the stock of Biocon with an unchanged price target (PT) of Rs 420.


For all recommendations report, click here

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first published: Apr 30, 2022 10:13 pm
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