Emcure Pharmaceuticals Share Price Analysis: Recent Surge and Future Targets
Emcure Pharmaceuticals Share Price Highlights
Emcure Pharmaceuticals shares experienced a notable increase of over 5%, reaching a fresh 52-week high on Wednesday. This surge follows the initiation of coverage by Kotak Institutional Equities, which assigned an 'Add' rating to the stock.
Kotak's 'Add' Rating and Price Target
Kotak's assessment includes a target price of ₹1,655 per share, suggesting an upside potential of 11% from Tuesday's close. The firm emphasized that Emcure is distinct among Indian pharma majors with no direct US generics exposure, contributing to its earnings stability.
Growth Prospects and Market Position
Kotak Equities predicts a 14% sales CAGR from FY2024-2027, underpinned by robust organic growth and strategic licensing deals. Despite potential risks, they remain optimistic about Emcure's growth trajectory in domestic and international markets.
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