Nomura has maintained its ‘Buy’ rating on Dr Lal PathLabs, setting a target price of ₹3,720, which implies a potential upside from the current market price of ₹3,280.
Nomura expects steady performance from Dr Lal PathLabs despite the modest seasonal demand in FY25. The brokerage highlights that Q2 is typically a strong quarter for the diagnostic industry, driven by a rise in acute ailments. However, the previous year’s high base, influenced by the strong flu and dengue season, sets a challenging comparison.
Despite this, the incidence of dengue appears to be relatively lower in FY25, especially in Delhi, which could impact the company’s seasonal performance slightly compared to last year.
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