Hold Abbott India; target of Rs 21725: ICICI Direct

ICICI Direct's research report on Abbott India

Abbott India is one of the fastest growing listed MNC pharma companies. It has outperformed the industry on a consistent basis in women’s health, GI, metabolic, pain, CNS among others. The company’s top five brands - (Mixtard, Thyronorm, Novomix, Udiliv and Duphaston) together posted revenue CAGR of ~6.6% MAT, March 2019-22 • Abbott has 140+ brands in segments of women’s health, gastroenterology, metabolics, CNS, multi-specialty, vaccines & consumer health.

Outlook

We maintain HOLD rating as valuations at current levels largely factor in power brands growth momentum and growing traction for new brands. Valued at Rs 21725 i.e. 40x FY24E EPS of Rs 543.1

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Abbott India - 21 -11-2022 - icici