ICICI Direct is bullish on Neogen Chemicals recommended buy rating on the stock with a target price of Rs 1515 in its research report dated September 21, 2021.
Broker Research
September 22, 2021 / 01:30 PM IST
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ICICI Direct’s research report on Neogen Chemicals
Commencing operations in 1991, Neogen Chemicals manufactures specialty organic bromine-based chemical compounds as well as specialty inorganic lithium-based chemicals compounds. • The company’s products find application in pharmaceutical intermediates, agrochemical intermediates, engineering fluids, polymers additives and water treatment chemicals to name a few • Neogen has two segments viz. (i) organic chemicals, (ii) inorganic chemicals of which organic chemical constitute ~80% of overall revenue while the rest comes from inorganic chemicals.
Outlook
We value Neogen Chemicals at 40x P/E FY24E EPS to arrive at a revised target price of Rs 1515/share (earlier Rs 1095/share).
For all recommendations report, click here
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