Jefferies initiates coverage on JB Pharma with a ‘buy’ tag; stock hits 52-week high

Jefferies has given a target of Rs 2,680 to JB Pharmaceuticals,respectively based on 20x June-25 EV-EBITDA valuations, due to its dominance in cardiac and gastro therapies and successful life cycle management of brands. The company has a 15% higher valuation than its peer, Torrent Pharma, due to superior financials. Alongside the strong brand position, JB exports to over 40 countries using innovative technology. Jefferies believes JB Pharma will emerge as one of the fastest-growing mid-sized companies with a 12/17%/20% growth in revenue/EBITDA/PAT CAGR over the next three years.