Sun Pharma, Syngene top picks for Jefferies in Indian pharma sector

Syngene International

23/03/2023 08:09

** Jefferies picks pharmaceutical firms Sun Pharmaceutical
 SUN.NS  and Syngene International  SYNN.NS  to remain resilient
in an uncertain environment due to strong long-term earnings
growth potential
    ** Both SUN and SYNN up 0.7% and 0.6%, respectively, as of
1:23 p.m. IST, compared to 0.2% gains in Nifty pharma index
 .NIPHARM  
    ** Sun Pharma will maintain double digit revenue growth in
coming years led by India, emerging markets, says Jefferies 
    ** Adds new contracts will help boost revenue growth for
Syngene
    ** SUN's global specialty sales should reach US$1 billion 
according to FY25 estimates: Jefferies 
    ** SYNN should see ramp-up in FY24 with the help of its
biologics manufacturing contract worth US$500 million, adds the
global brokerage firm
    ** Jefferies finds SUN's valuations attractive and earnings
outlook predictable
    ** Expects SYNN's profit after tax to double over FY23-25 
     


 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))