IIFL Securities's Stock Idea: Buy Concord Biotech with Target Rs 1790

IIFL Securities recommends a "buy" rating for Concord Biotech with a target price of Rs 1790, representing a potential upside of approximately 2.6%. Concord Biotech's current market price stands at Rs 1745.55. The brokerage firm cites the company's strong financial performance, robust order book, and robust growth potential as reasons for its bullish outlook. Investors should note that this is just one analyst's opinion, and it is always advisable to conduct their own research and consult with a financial advisor before making any investment decisions.

About Concord Biotech:

Concord Biotech Limited is a biotechnology company incorporated in India. The company is engaged in the development, manufacturing, and marketing of active pharmaceutical ingredients (APIs) and finished dosage forms (FDFs). Concord Biotech has a wide range of products, including anti-infective, cardiovascular, gastrointestinal, and central nervous system drugs. The company's products are sold in over 50 countries worldwide. Concord Biotech has a strong focus on research and development, and it has a number of products in the pipeline. The company is also expanding its manufacturing capacity to meet the growing demand for its products.

52 Week Price Trend:

Concord Biotech (NSE: CONCORDBIO) has exhibited significant growth in the past year, with a current market price of Rs 1745.55, well above its 52-week high of Rs 1608.2. This represents a remarkable 8.7% increase from the previous high. However, the stock has not been immune to market volatility, as evidenced by its 52-week low of Rs 900, indicating potential downside risk. Despite this, Concord Biotech's strong performance suggests investor confidence in the company's long-term prospects.

Stratzy's MOST Analysis:

Based on Stratzy's MOST framework, CONCORDBIO has received an AA rating, indicating a low fundamental risk. This rating is based on an assessment of the company's Management, Outlook, Safety, and Trend (MOST) factors. The rating considers the company's management team, its financial performance, its industry prospects, and its overall stability. An AA rating suggests that CONCORDBIO is a relatively low-risk investment with a positive outlook.

Fundamental and Technical information provided in this blog were last updated on 10 Jul, 2024

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