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 February 23, 2021.

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Sharekhan’s research report on Sanofi India

Sanofi India (Sanofi) reported a weak performance for the quarter with results missing estimates, though numbers are not comparable with previous quarters. Strong performance of top 10 brands which have dominant share in their respective segments augurs well and provides visibility on growth ahead. Sanofi has recommended dividend per share of Rs. 365 for CY2020, which translates into healthy dividend yield of ~4.5%. Better growth prospects, strong balance sheet with no debt, minimal capex, and healthy cash position are the key positives.

Outlook

We retain Buy with an unchanged PT of Rs. 9,249.

For all recommendations report, click here

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