Lupin shares gained more than 2% in early trade today after global brokerage firm Investec upgraded the stock to a “buy” from “hold” and raised its target price to ₹2,265 from ₹2,100. As of 9:23 AM, the shares were trading 2.26% higher at Rs 2,032.90.
The upgrade reflects Lupin’s strong positioning to benefit from the upcoming GLP-1 opportunity in India. According to Investec, the recent correction in Lupin’s share price has made its valuations look reasonable and attractive.
In its outlook, Investec projects that FY26 will be a strong year for Lupin, followed by some moderation in FY27, with earnings growth expected to resume again in FY28. The firm also emphasized Lupin’s ability to capitalise on growth opportunities in the domestic market, particularly in therapies related to GLP-1, which could become a key growth driver over the medium term.
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