Buy Laurus Labs: target of Rs 410: Sharekhan
Sharekhan is bullish on Laurus Labs has recommended buy rating on the stock with a target price of Rs 410 in its research report dated December 22, 2020.
December 23, 2020 / 01:15 PM IST
Sharekhan's research report on Laurus Labs
Formulations business gaining traction with tender business witnessing sturdy demand traction. Custom synthesis business is also expected to clock double-digit growth over FY2020-FY2023 backed by expanded capacities and increasing commencement of commercial supplies. Further, the company’s foray in the lucrative biologics/biotech space through the acquisition of a majority stake in Richcore Lifesciences would be a key positive as it would create a new revenue stream.
We retain a Buy recommendation on Laurus Labs Limited (Laurus) with a revised PT of Rs. 410.
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