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DRChoksey Research Report
We upgrade our rating on Zydus Lifesciences Ltd. from Accumulate to Buy as target price implies 17.3% upside from its current market price.
We believe, stronger than anticipated growth in India markets driven by continued strong growth in chronic portfolio as well as in new chemical entities such as Saroglitzar, Oxemia, and Ujvira and more than anticipated growth in the U.S. markets on the back of volumes growth in the base portfolio as well as new launches such as Zituvio and Transdermal products should support higher than anticipated profitable growth over FY23-FY26E.
For now we maintain our sales and earning estimates at 10.2% and 18.3% compound annual growth rate over FY23 - FY26E
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