Nuvama initiates Laurus Labs at Buy with Rs 2,520 target
In short
Nuvama Institutional Equities started coverage on Laurus Labs with a Buy rating and a target price of Rs 2,520. It said that is 24% above the current market price, and it expects the company’s shift from ARV work to CDMO to help growth.
This matters for Laurus Labs because analysts see a new growth driver. The report does not say how the market reacted or when the rating was issued.
What the reporting says
Nuvama Institutional Equities initiated coverage on Laurus Labs with a Buy rating and a target price of Rs 2,520, implying 24% upside from the current market price. The brokerage said the drugmaker’s shift from its ARV business toward contract development and manufacturing, or CDMO, should drive its next growth phase. The reporting does not state when the target was set or how the stock moved after the call.
Why it matters
Nuvama Institutional Equities has initiated coverage on Laurus Labs with a Buy rating and a target price of Rs 2,520, which it says implies 24% upside. The brokerage expects the company’s move away from its traditional anti-retroviral business toward CDMO to support the next phase of growth. The note is positive for sentiment, but the reporting does not mention an actual price move or operational results.