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Buy Strides Pharma Sciences; target of Rs 450: Sharekhan

Sharekhan is bullish on Strides Pharma Sciences has recommended buy rating on the stock with a target price of Rs 450 in its research report dated July 29, 2022.

July 31, 2022 / 02:41 PM IST
 
 
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Sharekhan's research report on Strides Pharma Sciences


Strides’ Q1Fy23 operating performance improved sequentially as the company reported operating profits for the third consecutive quarter. The revenues are better than the estimates while the operating profit too has improved QoQ, but missed the estimates. Going ahead, the US business’ performance is expected to stage a marked improved with the green shoots of revival visible. Management has guided for a $250 mn revenues from the US For FY23. Which translates into a strong growth. The other regulated markets are expected to sustain their strong growth momentum.


Outlook


The stock price has corrected sharply by ~59% from its 52 week highs the valuations now appear reasonable. This coupled with the encouraging outlook for the US business, we retain Buy recommendation on the stock with unchanged PT of Rs 450.


For all recommendations report, click here

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Strides Pharma Sciences - 290722 - khan

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first published: Jul 31, 2022 02:39 pm
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