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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 July 23, 2021.

July 27, 2021 / 10:52 AM IST
 
 
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Sharekhan's research report on Biocon  


Q1FY22 was a weak quarter and results missed estimates. Performance was impacted due to 2nd wave of Covid in India. Growth outlook across all the business is strong with Biologics segment expected to be the key growth driver. In the near term interchangeability status for Semglee and approval for bAspart, if received could be the key triggers. After a weak performance in Q1FY22, management has shared a promising growth outlook which augurs well from a growth perspective.


Outlook


We retain Buy on the stock of Biocon with an unchanged price target (PT) of Rs. 470.


For all recommendations report, click here


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first published: Jul 27, 2021 10:52 am

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