Lupin Shares Jump Over 3% As Investec Hikes Target Price, Upgrades To 'Buy'

Lupin Ltd.'s share price rose 3.37% on Friday after the company received an upgrade from 'Hold' to 'Buy' by Investec. The brokerage also raised the target price to Rs 2,348 from the previous Rs 1,732.

The brokerage is optimistic about the company's robust product pipeline, which is expected to boost earnings and its solid performance in the US and India.

Investec has increased its Ebitda estimates for the financial years 2026 and 2027 by 23% and 10%, respectively, driven by a more optimistic forecast for the company's US business. The brokerage said that company's focus on speciality products and brand-building efforts will be key factors adding to its growth potential.

Its key products in the US, such as Spiriva, gGle, and gFro are already doing well, contributing to Lupin's revenue and profitability, the brokerage noted.

Investec expects Lupin's consumer, Digital Life, and diagnostics businesses to complement its branded generic business, allowing it to capture a larger share of the weight loss management market.

The scrip rose as much as 3.37% to Rs 2,055 apiece. It pared gains to trade 2.41% higher at Rs 2,036 apiece, as of 10:16 a.m. This compares to a 0.27% advance in the NSE Nifty 50 Index.

It has fallen 9.41% in the last 12 months. Total traded volume so far in the day stood at 3.7 times its 30-day average. The relative strength index was at 66.

Out of 40 analysts tracking the company, 26 maintain a 'buy' rating, 11 recommend a 'hold,' and three suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 9.4%