HomeNewsBusinessStocksBuy Ipca Laboratories; target of Rs 1734: Sharekhan

Buy Ipca Laboratories; target of Rs 1734: Sharekhan

Sharekhan is bullish on Ipca Laboratories has recommended buy rating on the stock with a target price of Rs 1734 in its research report dated September 30, 2024.

October 01, 2024 / 12:09 IST
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Buy
Buy

Sharekhan's research report on Ipca Laboratories

Ipca’s board is set to discuss integration of Bayshore Pharmaceuticals’ generics business into Unichem Pharma US. Bayshore’s integration would enhance growth prospects, drive international revenue, on recent regulatory approvals for US manufacturing sites. Ipca’s investments in biologics and plans to revitalize its CDMO initiatives suggest significant growth potential, supporting our price target of 1734. Ipca is investing in biologics and plans to revitalize its contract drug development and manufacturing (CDMO) ambitions, which were previously affected by regulatory issues with the U.S. FDA.

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Outlook

The stock currently trades at 39x and 30x based on its FY26E and FY27E EPS estimates of 37.77 and 49.52, respectively.