BofA Securities has revised its ratings and target prices for both Zydus Life and Lupin amid growing uncertainty over the supply of Mirabegron:
- Zydus Life: BofA Securities has reiterated its Neutral rating, lowering the target price from ₹1,310 to ₹1,145 per share. The current market price (CPM) of Zydus Life stands at ₹1,056.00.
- Lupin: The firm has maintained its Underperform rating, cutting the target price from ₹1,660 to ₹1,560 per share. The current market price (CPM) of Lupin is ₹2,172.25.
The revisions are driven by uncertainty surrounding the supply of Mirabegron, a key drug for both companies. While BofA Securities does not anticipate an immediate halt in supplies unless mandated by the court, the recent developments have created a near-term overhang on both stocks. This uncertainty is expected to weigh on the performance of Zydus Life and Lupin shares in the coming period.
