India's Entero Healthcare surges as Jefferies initiates with 50% upside view

Entero Healthcare Solutions

12/04/2024 06:29

** Shares of healthcare products distributor Entero
Healthcare Solutions  ENTE.NS  up 20% at 1,202.30
    ** Stock hits upper limit of exchange-mandated trading band
    ** Jefferies initiates stock with "buy" and PT of 1,510
rupees, a 50% upside from Wednesday's close of 1,001.95 rupees
    ** ENTE is well-placed to grow 20% organically in FY24-26,
brokerage says 
    ** Jefferies expects 44% revenue CAGR at 80 bln rupees
($959.4 mln) for co over FY24-26 
    ** It sees EBITDA margins rising to 4.8% by FY26 from 2.9%
in FY24
    ** ENTE down about 20% from its debut in Feb, as of last
close

($1 = 83.3870 Indian rupees)

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))