ICICI Securities resumes coverage of India's Tarsons, bets on 11% upside in stock

Tarsons Products

13/09/2023 07:46

** ICICI Securities resumes coverage of India's Tarsons Products  TARO.NS 
with "add" rating, sets TP of 590 rupees per share 
    ** Brokerage bets on 11% upside to current price of 530 rupees on expansion
into niche product areas  
    ** Co maintaining strong margin profile against foreign and domestic rivals
on premium pricing, tech prowess - ICICI 
    ** Brokerage sees CAGR revenue growth of 10.7% over FY23-FY25  
    ** All five analysts covering stock rate it "buy" or higher; median PT is
695 rupees - LSEG data
    ** Co's June-qtr results impacted by slow down in life science industry,
higher inventory, which it sees persisting for a few quarters
    ** Stock down ~24% YTD

 (Reporting by Archishma Iyer in Bengaluru)
 ((Archishma.Iyer@thomsonreuters.com;))