JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Investing.com - BofA Securities upgraded Alkem Laboratories Ltd (NS:ALKEM) from Underperform to Neutral on Wednesday, raising its price target to INR5,530.00 from INR4,900.00.
The upgrade follows Alkem’s strong first-quarter FY26 performance, which demonstrated better-than-expected margins of 22% compared to BofA’s estimate of 19.5%.
Alkem’s India business grew 12% year-over-year in the June quarter, showing improvement after several quarters of muted trends, according to BofA Securities.
The investment bank now projects FY26 margins at 20%, up from 19.4% last year, despite factoring in higher investments in R&D and new business initiatives throughout the year.
BofA Securities adjusted its FY26-28 earnings per share estimates upward by 5-6% while maintaining its valuation multiple at 18.5x one-year forward EV/EBITDA.
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