On Friday, September 12, 2025, Investec upgraded Lupin to a buy from hold and raised its target price to ₹2,265 from ₹2,100, citing strong positioning for the upcoming GLP-1 opportunity in India. The brokerage highlighted that post the recent correction, valuations for Lupin appear reasonable and attractive.
Investec’s base case scenario projects a strong FY26, followed by a moderation in FY27, with EPS growth expected to resume in FY28. With the current market price (CMP) of Lupin at ₹1,990.50, the revised target price implies a potential upside of about 13.8%.
The brokerage underlined that Lupin is well placed to capitalise on growth opportunities in the domestic market, especially in therapies related to GLP-1, which could act as a meaningful driver over the medium term.
Disclaimer: The views and investment recommendations expressed in this article are those of Investec. Business Upturn does not endorse or recommend any investment decisions. Investors are advised to consult financial experts before making investment choices.
