India's Emcure Pharma hits record high after Jefferies raises TP
BUZZ-India's Emcure Pharma hits record high after Jefferies raises TP ** Shares of Emcure Pharmaceuticals EMCU.NS rise 2.9% to 1,842 rupees apiece, stock set for fourth straight session of gains
** EMCU hit all-time high of 1902.70 rupees earlier in the session
** Jefferies maintains "buy" rating on shares; hikes up TP to Street high of 2,100 rupees from 1,970 rupees
** Co looks well-placed to achieve low to mid-teens revenue growth - Jefferies
** Brokerage says Emcure's R&D backed products are sole focus for long-term growth and that co has identified multiple growth levers in India
** EMCU sees international business growing faster than India in coming years with EU growth driven by launches of complex injectables, Canada business to benefit from strong generic pipeline
** Five out of six brokerages rate EMCU "buy" or higher, median PT 1,932 rupees--LSEG-compiled data
** YTD, stock up 105.4%
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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