ICICI Securities downgrades Alembic Pharma stock to HOLD, target price Rs 984
ICICI Securities said that Alembic Pharma reported Q4FY21 performance largely in line with estimates, though EBITDA margin was higher due to lower operating costs. Revenue in US was below expectation at US$63mn due to competitive pressure and the management indicated the US revenue quarterly base would be between US $55 - $60mn
ICICI Securities remains positive on the long-term outlook considering revival in India growth, focus on complex and niche R&D, and track record of healthy return ratios: Zee Business