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Buy Laurus Labs: target of Rs 735: Sharekhan

Sharekhan is bullish on Laurus Labs has recommended buy rating on the stock with a target price of Rs 735 in its research report dated March 25, 2022.

March 28, 2022 / 02:14 PM IST
 
 
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Sharekhan's research report on Laurus Labs

Laurus is fortifying its position in FD and synthesis segments, strengthening its presence in non- ARV space and growing in new area of biologics, through Laurus Bio. Strong demand environment well complimented with capacity expansion would drive the growth ahead. Emerging opportunities from patent expiry of drugs in areas of anti-diabetes and cardiology offer significant potential for Laurus and could drive the growth in Other API’s as well as FD’s. Channel de-stocking in the ARV API’s is gradually easing out and normalization is likely by Q1FY23. Management interaction suggests towards a possible sequential improvement in Q4FY22.


Outlook

We reiterate our Buy recommendation on Laurus Labs (Laurus) with an unchanged PT of Rs. 735.