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Investing.com - Jefferies has upgraded Gland Pharma (NSE:GLAD) Ltd (GLAND:IN) stock rating from Underperform to Hold, while raising its price target to INR1,970.00 from INR1,350.00.
The upgrade follows Gland Pharma’s first-quarter results, which Jefferies described as operationally in-line with its estimates. The performance was driven by a turnaround in the company’s Cenexi division, which benefited from the launch of higher-value projects and improved capacity utilization.
While the U.S. market experienced a soft quarter, Gland Pharma’s management expects stronger performance in the second half of the year and maintained its guidance for mid-teens revenue growth overall.
Jefferies has increased its FY26-27 earnings per share estimates for Gland Pharma by 2-5%, noting that the company’s earnings appear to have bottomed out.
The investment firm indicated that current valuations leave limited upside potential for the stock, which factored into its decision to upgrade to a Hold rating rather than a Buy.
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