India's Alkem Laboratories up as J.P. Morgan starts coverage with 'overweight'

Alkem Laboratories

27/10/2023 08:45

** Shares of Alkem Laboratories  ALKE.NS  rise as much as
2.7% to 3,656.9 rupees
    ** Analysts at J.P. Morgan initiate coverage with
"overweight" rating, price target of 3,985 rupees
    ** Expects long-term growth to be healthy backed by dominant
position in acute therapies, market share gain in chronic
segment and growth in trade generic business - JPM 
    ** Says ALKE benefits from consistent outperformance in
India, volume led growth and leadership in acute therapies
    ** Five of the 23 analysts covering the stock have "buy" or
"strong buy" rating, 9 have "hold" while 9 rate it at "sell" or
"strong sell"; median PT is 3,600 rupees - LSEG data
    ** Stock up 21% YTD

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))