India's Cohance falls after JP Morgan downgrade, eyes longest losing run on record

Cohance Lifesciences

19/11/2025 09:19

** Shares of Cohance Lifesciences COHA.NS fall 3% to 577 rupees, lowest since November 2023

** COHA on track for longest losing run on record, down for 15th straight session since Oct. 29, when co's MD stepped down

** J.P. Morgan downgrades stock to "Neutral" from "Overweight", slashes PT to 640 rupees from 1300 rupees

** Says action follows Q2 earnings disappointment and downward revision in FY26 revenue guidance from double-digit growth to flattish

** Pharma co posts 46.5% y/y decline in September-quarter consol net profit; rev from ops down about 8%

** Brokerage cuts FY26-28 earnings estimate by 26%-34% due to ongoing customer destocking, delayed order reloads and shipment push-outs

** Eight analysts have a "buy" rating on avg; median PT is 860 rupees - data compiled by LSEG

** YTD, COHA down 49%

 (Reporting by Urvi Dugar and Komal Salecha in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))