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Investing.com - JPMorgan has raised its price target on Torrent Pharma (NS:TRP) stock to INR4,000 from INR3,800 while maintaining an Overweight rating.
The adjustment follows Torrent Pharma’s first-quarter results, which showed revenues in line with estimates and adjusted EBITDA margins of approximately 33%, exceeding JPMorgan’s expectations by 50 basis points.
JPMorgan cited multiple catalysts for its positive outlook, including Torrent’s consistent outperformance in India driven by both volume and pricing, strong growth in Brazil benefiting from currency recovery, and potential Semaglutide launches in both markets.
The investment bank also highlighted the pending JB Pharma acquisition, which it expects to be earnings-per-share accretive in fiscal years 2028 and 2029, though these projections are not yet incorporated into current estimates.
The new price target represents a roll-forward to September 2026, while JPMorgan’s fiscal year 2026/2027 EBITDA estimates remain largely unchanged.
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