Jefferies has reiterated its Buy rating on Sun Pharma, raising the target price to ₹2,150, indicating a potential upside of 13% from the current market price of ₹1,902. The company’s Q2 results were in line with expectations for sales, while EBITDA and PAT surpassed estimates due to lower R&D spending.
Sun Pharma’s US growth was propelled by increased sales of gRevlimid and gains in the specialty segment, which grew 8% quarter-over-quarter to $286 million. The India business also reported an 11% year-over-year growth, driven by high volumes. Management revised down its FY25 R&D guidance due to delays in clinical trials, which contributed to improved profitability. Sun Pharma also remains poised to launch Leqselvi, pending litigation outcomes, and is strategically positioned for additional specialty segment deals.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors are advised to perform their due diligence before making investment decisions.
