Abbott India extends gains after JP Morgan sets Street-high PT

Abbott India

06/02/2025 08:57

** Shares of Abbott India Ltd  ABOT.NS  climb 4.4% to 29,030
rupees
    ** JP Morgan ("overweight") lifts PT on stock to 34,000
rupees from 31,500 rupees, a Street-high, as per data compiled
by LSEG 
    ** Drugmaker's Q3 consol net profit jumped 16% Y/Y on
Wednesday, stock jumped ~4%
    ** ABOT benefitted from its unique strategy of tailoring
product launches to fit local markets, says JPM
    ** Adds, strong demand for Rybelsus, oral version of Novo
Nordisk's  NOVOb.CO  weight-loss drug, boosted sales 
    ** Avg rating of four analysts on ABOT at "strong buy";
median PT is 31,850 rupees - LSEG data
    ** Stock gained ~30% in 2024


 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))