Buy Laurus Labs: target of Rs 800: Sharekhan
Sharekhan is bullish on Laurus Labs has recommended buy rating on the stock with a target price of Rs 800 in its research report dated September 28, 2021.
September 29, 2021 / 02:22 PM IST
Sharekhan's research report on Laurus Labs
The recent clarification over the non- suspension of marketing authorizations of Laurus’ products points at concerns being overdone. Laurus is fortifying its position in the FD and synthesis segments, strengthening its presence in non- ARV space and growing in new area of biologics. Emerging opportunities from patent expiry of drugs in areas of anti-diabetes and cardiology offer significant potential for Laurus. Basis sturdy growth prospects and capacity expansion plans, Laurus has targeted for a $1bn revenues by FY2023.
We re-iterate a Buy recommendation on the stock of Laurus Labs (Laurus) with an unchanged PT of Rs. 800. Stock price has corrected by ~16% from its highs and this provides a good entry point for investors.
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