JP Morgan is underweight on Dr Reddy’s Laboratories with the target price at Rs 1,060. Analysts said the pharma major’s Jan-March revenue was in line, but EBITDA missed estimates. According to them the underweight rating is premised on weak core EBITDA margins, lacklustre growth in India, lack of visibility on niche launches in the US and Semaglutide opportunity can be decent but the market is expected to be competitive.
Citigroup has a buy rating on Biocon with the target price at Rs 430. Analysts said Biocon’s Jan-March numbers were weak as ex-gRevlimid EBITDA margin declined. The company also reported about 4% annual growth in biosimilars despite a strong market share expansion in onco assets that indicates a weak pricing scenario.
Nomura has given a ‘buy’ rating on Zydus Life with the target price at Rs 1,140. Analysts said the company has received approval for gCopaxone, which they estimate has a market size of $600 million. Besides Teva, there are two generic players for the same. They also expect additional competition in future from Biocon and Dr Reddy’s.
Macquarie maintained its underperform rating on Swiggy with the target price at Rs 260. Calling the Jan-March numbers ‘from bad to worse’, they said Swiggy’s results continued to under-score the challenges for the platform. The management now expects contribution margin break even in 3-5 quarters versus prior guidance of achieving the same by December 2025. They also pointed out that the margin gap to Eternal (Zomato) continued to narrow.
Goldman Sachs has a buy rating on Pidilite with the target price at Rs 3,475. Analysts said the company's strong, near-double digit volume growth continued despite a muted environment. The management is optimistic about FY26 growth given some improvement in the broader consumption environment. They also feel B2B growth likely to remain very strong over the next 2-3 years.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
Citigroup has a buy rating on Biocon with the target price at Rs 430. Analysts said Biocon’s Jan-March numbers were weak as ex-gRevlimid EBITDA margin declined. The company also reported about 4% annual growth in biosimilars despite a strong market share expansion in onco assets that indicates a weak pricing scenario.
Nomura has given a ‘buy’ rating on Zydus Life with the target price at Rs 1,140. Analysts said the company has received approval for gCopaxone, which they estimate has a market size of $600 million. Besides Teva, there are two generic players for the same. They also expect additional competition in future from Biocon and Dr Reddy’s.
Macquarie maintained its underperform rating on Swiggy with the target price at Rs 260. Calling the Jan-March numbers ‘from bad to worse’, they said Swiggy’s results continued to under-score the challenges for the platform. The management now expects contribution margin break even in 3-5 quarters versus prior guidance of achieving the same by December 2025. They also pointed out that the margin gap to Eternal (Zomato) continued to narrow.
Goldman Sachs has a buy rating on Pidilite with the target price at Rs 3,475. Analysts said the company's strong, near-double digit volume growth continued despite a muted environment. The management is optimistic about FY26 growth given some improvement in the broader consumption environment. They also feel B2B growth likely to remain very strong over the next 2-3 years.
Disclaimer: The opinions, analyses and recommendations expressed herein are those of brokerage and do not reflect the views of The Times of India. Always consult with a qualified investment advisor or financial planner before making any investment decisions.
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