Buy Sanofi India; Target Of Rs 9249: Sharekhan
Sharekhan is bullish on Sanofi India has recommended buy rating on the stock with a target price of Rs 9249 in its research report dated October 27, 2020.
Nov 2, 2020 / 03:04 PM IST
Sharekhan's research repor on Sanofi India
Sanofi reported a mixed performance for Q3CY2020, though numbers are not comparable with the previous quarters. Revenues declined 11.9% YoY to Rs 687 crore, Adjusted PAT declined 19.8% to Rs 133 crore. Higher Share of Chronic, which provides a stable stream of revenues coupled with sustained traction from the top brands and margin expansion, due to favorable mix, to lead to double digit earnings growth over CY2019-CY2022E. Better growth prospects, low exposure to regulated markets, strong balance sheet, healthy cashflows, would continue to support premium valuations.
We retain a Buy recommendation for Sanofi India (Sanofi) with an PT of Rs 9249.
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