Buy Strides Pharma Science; target of Rs 936: Geojit

Geojit is bullish on Strides Pharma Science has recommended buy rating on the stock with a target price of Rs 936 in its research report dated June 03, 2021.

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// else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; 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Geojit’s research report on Strides Pharma Science

Strides revenues in Q4FY21 grew by 47% YoY to Rs.908 cr during the quarter with sales growth in the regulated markets and emerging markets. The emerging markets grew by 107% YoY with growth in institutional biz. driven by TDL. The company announced its partnership with TLC to launch Amphotericin B Liposome for Injection 50mg. We expect a revenue CAGR of 15% over FY21E-FY23E on the back of strong existing product portfolio, new product basket to aid COVID treatment and strengthening of front-end presence.

Outlook

Hence, we upgrade our rating from “Accumulate” to “Buy” based on 16x FY22E EPS and target price of Rs.936.

For all recommendations report, click here

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