Global brokerage Jefferies has initiated coverage on Anthem Biosciences with a Buy rating and a price target of Rs 1,050, citing the company's differentiated capabilities across small- and large-molecule therapeutics, strong return ratios and a healthy growth runway.
The target price implies an upside of around 20% from Anthem Biosciences' current market price of Rs 874.15 on Friday. Jefferies has assigned a valuation of 65 times its September 2028 estimated earnings per share (EPS), a 10% premium to the sector's one-year forward average multiple of around 60 times.
