Jefferies has reiterated its “Buy” rating on JB Pharma, raising the target price to ₹2,330 from ₹2,230, indicating a 25% potential upside from the current market price of ₹1,860. The brokerage noted that JB Pharma’s Q2 performance was in line with expectations, with key growth drivers intact.
Despite a muted Q2 for its Contract Development and Manufacturing Organization (CDMO) segment, management is optimistic about a strong H2FY25. Jefferies highlighted the sustained growth momentum in JB Pharma’s domestic business and pointed out that the company maintained its EBITDA margin guidance towards the higher end of the 26-28% range.
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