Kotak analysts raised the price target on Blue Jet Healthcare (IN) to INR415.00 (from INR410.00) while maintaining an Add (2) rating.
The analysts comment: "
Blue Jet reported a 7%/13% sales/EBITDA miss on our estimates in 4QFY24, led by lower-than-expected contrast media sales due to lower offtake from GE. However, sales in the pharma intermediates and artificial sweeteners segments grew sequentially more than 30%. Largely driven by new launches across pharma intermediates and contrast media and newer capacities coming online, we expect it to deliver robust 29%/26% EBITDA/adjusted EPS CAGRs over FY2024-27E. Nevertheless, across segments, it is exposed to potential order delays and cancellations, which can drive significant earnings volatility. Retain ADD with an SoTP-based FV of Rs415/share."