India's Dr. Lal PathLabs extends gains after Q4 results

Dr. Lal PathLabs

13/05/2024 10:24

** Shares of Dr. Lal PathLabs  DLPA.NS  up 6.04% to 2,489.8
rupees - its highest since early Feb. 
    ** At least eight brokerages up TPs on stock post Friday's
Q4 profit rise, including Nomura - LSEG 
    ** Stock settled 5.2% higher in the previous session
    ** Nomura upgrades rating on stock to "Buy" from "Neutral"
reflecting improved growth visibility, limited downside risks in
valuation of stock 
    ** Raises FY25-26 earnings estimates by 6%-8% on higher rev,
gross margin and operating leverage 
    ** Morgan Stanley keeps TP of 2,681 rupees and rating
"Overweight" unchanged 
    ** Prefers DLPA for its strong execution record, remains
cautious on patient growth and tests/patients trajectory 
    ** Analysts avg rating on stock is "Hold", their median PT
on stock is 2,600 rupees
    ** Stock down 3.4% YTD 


 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))