Emcure Pharma share price jumps over 5% to 52-week high as Kotak initiates coverage with ‘Add’ rating; sees 11% upside
Live MintEmcure Pharmaceuticals share price jumped over 5% to hit a fresh 52-week high on Wednesday after domestic brokerage firm Kotak Institutional Equities initiated coverage on the stock with a bullish view. Kotak has assigned ‘Add’ rating to Emcure Pharmaceuticals shares with a target price of ₹1,655 per share, implying an upside potential of 11% from Tuesday’s closing price. Emcure Pharma share price target by Kotak Equities is based on 30X September 2026 EPS estimates, implying a ~20% discount to the P/E multiples it ascribes to Mankind Pharma, Torrent Pharmaceuticals and JB Chemicals and Pharmaceuticals. Led by healthy organic growth, in-licensing deal with Sanofi, consolidation of Mantra and with most of the legal challenges behind, Kotak Equities expects Emcure Pharma to report a 14% overall sales CAGR over FY2024-27E.
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