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Buy Sanofi India; target of Rs 8965: ICICI Direct

ICICI Direct is bullish on Sanofi India recommended buy rating on the stock with a target price of Rs 8965 in its research report dated February 24, 2022.

February 25, 2022 / 12:21 PM IST
 
 
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ICICI Direct's research report on Sanofi India


Sanofi offers drugs in therapies like diabetes (insulins & orals), cardiology, thrombosis, anti-infective, CNS, allergy, vitamins, minerals & supplements. Lantus, Allegra & Combiflam are in Top 100 pharmaceutical brands in India • Sanofi is one of the fastest growing companies in India in anti-diabetic therapy.



Outlook


Retain BUY rating on the stock due to strong chronic (anti-diabetic in particular) franchise and downsized portfolio to focus on margins Valued at Rs 8965 i.e. 30x P/E on FY24E EPS on Rs 298.9.

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At 12:18 hrs Sanofi India was quoting at Rs 7,192.90, up Rs 9.05, or 0.13 percent.

It has touched an intraday high of Rs 7,348.40 and an intraday low of Rs 7,192.90.

It was trading with volumes of 873 shares, compared to its thirty day average of 916 shares, a decrease of -4.67 percent.

In the previous trading session, the share closed down 1.29 percent or Rs 93.60 at Rs 7,183.85.

The share touched its 52-week high Rs 9,300.00 and 52-week low Rs 6,949.35 on 10 August, 2021 and 27 January, 2022, respectively.

Currently, it is trading 22.66 percent below its 52-week high and 3.5 percent above its 52-week low.

Market capitalisation stands at Rs 16,565.70 crore.

For all recommendations report, click here

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first published: Feb 25, 2022 12:21 pm
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