ICICI Direct is bullish on Suven Pharmaceuticals has recommended buy rating on the stock with a target price of Rs 690 in its research report dated June 23, 2020.
ICICI Direct's research report on Suven Pharmaceuticals
In accordance with Suven Life Sciences (SLS) management’s endeavour to split its innovation and CRAMs businesses, the company had announced a demerger of its CRAMS business in January, 2020 to be held by the demerged entity, Suven Pharma (SPL), while SLS will continue to hold the discovery research segment and IPs. Subsequently, SPL shares got listed on Indian bourses on March 9, 2020.
Outlook
We have a BUY rating on the stock with a target price of Rs 690 based on 20x on FY22 EPS of Rs 34.4.
For all recommendations report, click here
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