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Stock Analysis, IPO, Mutual Funds, Bonds & More

CLSA initiates coverage on Abbott India with buy rating

Shares of Abbott India ended up 0.75 per cent at Rs 11,763 on Wednesday.

ET Bureau|
Nov 14, 2019, 08.03 AM IST
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The brokerage said Abbott India’s portfolio is well aligned with its parent company and has a strong record of building brands.
Mumbai: CLSA has initiated coverage on Abbott India with a buy rating and target price of Rs 14,500. The target price implies a potential upside of 23 per cent from current levels.

The brokerage said Abbott India’s portfolio is well aligned with its parent company and has a strong record of building brands.

Shares of Abbott India ended up 0.75 per cent at Rs 11,763 on Wednesday. Shares of Abbott India have surged nearly 55 per cent in the last one year.

“Strong balance sheets, superior return ratios and stable earnings profiles lend defensive characteristics to MNCs. Abbott India (AIL) has a portfolio well aligned with its parent and a strong track record of building brands,” said CLSA.

The brokerage said that these strong points have enabled the company to enjoy premium valuation over local peers, which is likely to continue as the company is ramping up existing brands, increasing pace of new launches and continuing to expand margins.

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