HomeMarket NewsMacquarie upgrades Strides Pharma, here’s why

Macquarie upgrades Strides Pharma, here’s why

Macquarie has upgraded Strides Pharma to an ‘outperform’ from ‘neutral’ and they have raised the target price to Rs 1,000 from earlier target price of Rs 908. Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.

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By Nimesh Shah  July 2, 2021, 10:32:21 AM IST (Updated)

Macquarie upgrades Strides Pharma, here’s why
Macquarie has upgraded Strides Pharma to an ‘outperform’ from ‘neutral’ and they have raised the target price to Rs 1,000 from earlier target price of Rs 908.


According to Macquarie, after a difficult FY21, they expect a strong 20 percent EBITDA CAGR between FY21 and FY23.

The key reason for their upgrade is they believe the street is undervaluing the potential upside for Strides from its 33 percent stake in Stelis.

Stelis is a company which is doing the Sputnik V vaccine and they believe there could be a bigger opportunity from Sputnik vaccine. Also, the CDMO segment will drive earnings, going forward.

Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.

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