Jefferies says Piramal Pharma at attractive valuation; shares up

Piramal Pharma (Mumbai)

19/03/2024 04:54

** Piramal Pharma  PIRM.NS  up 2.7% at 120.05 rupees
    ** Stock trading at attractive valuations of 14x FY25
enterprise value (EV) to EBITDA, says Jefferies
    ** Brokerage rates PIRM with "buy" and PT of 170 rupees
    ** Says, with earnings momentum in place, stock valuation
re-rating should follow
    ** Estimates 12.5% rev growth in FY25 for PIRM, but believes
co can do better led by CDMO contracts
    ** ICICI Securities, Motilal Oswal Securities, and Axis
Capital each rate PIRM "strong buy"; their avg PT is 158.33
rupees - LSEG data
    ** Co's rev rose 14.1% YoY in Q3
    ** Broader Nifty Pharma  .NIPHARM  index, which PIRM is not
part of, down 1.1%

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))