3Q-operationally in-line; vaccines off-take on rise

Company
11 Mar 2024
5 Min read 
  • GSK Pharma delivered operationally in-line 3QFY24 performance with better-than-expected margins.
  •  Efforts are underway to enhance the prospects of innovative products.
  •  Earnings estimate raised by 6%/3%/2% for FY24/FY25/FY26.
  •  Valuation adequately captures the upside in earnings, reiterating a Neutral stance on the stock.
  •  Revenue CAGR of 8% estimated over FY24-26.
  •  Cash likely to be distributed to stakeholders.
  •  Focus on specialty portfolio and new initiatives to drive overall growth.
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