Sharekhan is bullish on Divis Laboratories has recommended buy rating on the stock with a target price of Rs 3400 in its research report dated August 07, 2020.
Sharekhan's research repor on Divis Laboratories
Divis Laboratories (Divis) reported impressive performance for quarter. Consolidated sales stood at Rs 1730 crore up 48.8% y-o-y, while Adj PAT stood at Rs. 487 crore up 75% y-o-y. Hunt by global players for an alternative API source is expected to benefit companies like Divis. Benefits of backward integration, healthy product pipeline and commissioning of expanded capacities, amidst strong demand environment are the key positives. Strong earnings visibility, Sturdy balance sheet and healthy return ratios bode well.
We retain Buy recommendation on the stock with a revised PT of Rs. 3,400.
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