Equity Analysis /

AGP Limited: Sandoz acquisition is priced in; Neutral

  • We raise our CY21-25f EPS estimates for AGP by 18% on average after consolidating the acquisition of Sandoz Pakistan.

  • This leads us to raise our Dec’21 TP to PKR142 from PKR115 previously.

  • Recent price run-up (c.30%CYTD) has adequately captured this event, Neutral.

Yusra Beg
Yusra Beg

Senior Investment Analyst

Intermarket Securities
9 July 2021


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