Nomura has reiterated its buy rating on Alkem Laboratories with a target price of ₹6,860 per share after the company reported strong Q2FY26 growth across all operating segments.
The brokerage said Alkem remains confident about its domestic business outlook, expecting growth to stay at least 100–150 basis points ahead of the broader Indian pharmaceuticals market. In ex-U.S. international markets, the company expects sales to grow in the high teens for FY26.
Nomura highlighted a meaningful improvement in Alkem’s U.S. business, where management now expects double-digit growth in FY26, compared to the earlier guidance of mid-single-digit expansion. The brokerage said the valuation remains reasonable, supported by improving domestic performance, export momentum, and promising prospects at Enzene Biosciences.
The firm expects Alkem to sustain its current trajectory despite higher R&D spending, aided by a strong product pipeline and new launches.
Disclaimer: The views and recommendations above are those of Nomura. Business Upturn does not endorse them. Please consult a financial advisor before making investment decisions.
