Stock Markets Today – What top brokerages recommend
– Citi on Gland Pharma (CMP: 1878)
Maintain Sell, Target 1920
Announced acquisition of Cenexi for Euro230m
Though acquisition expands addressable market & also adds manuf. capabilities,
yet to figure out how 2 businesses will complement each other & generate synergies
– Goldman Sachs on Gland Pharma (CMP: 1878)
Maintain Buy, Target 2530
Announces acquisition of Cenexi;
as per management acquisition will help to expand Gland’s CDMO offerings in EU market
Buy on Pickup in RoW & India sales Improvement in US/core markets
Increasing production/utilisations at its key facilities
– Morgan Stanley on Gland Pharma (CMP: 1878)
Maintain Overweight, Target 2558
Deal will be funded using net cash on Glands balance sheet
Deal appears complementary to gland in terms of EU market access,
Branded pharma customer base and some technologies
See scope of meaningful value unlocking, subject to synergy execution
– Nomura on Gland Pharma (CMP: 1878)
Maintain Neutral, Target 2236
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
Read More: Stock Market Today LIVE: Nifty flat after record high for 3rd time in a row, Sensex slips