It said the company has a lower target multiple due to growth challenges. Limited new launches, Mixtard phase-out and GLP-1 impact will weigh on its growth, JPMorgan said.
Also, frequent MD resignations raise strategic uncertainty, it added.The stock’s valuation is reasonable but growth outlook doesn’t justify its premium, JPMorgan said in its note, and therefore, the brokerage cut its target multiple to 30 times from 37 times one-year forward earnings, in-line with peers.
On another note, in February, Abbott India said it has partnered with Novo Nordisk to market a new brand of semaglutide in India, amid rising demand for advanced metabolic treatments.
Abbott India said it would commercialise the drug under the brand ‘Extensior’ in India.
Of the eight analysts who have coverage on the Abbott India stock, six have a ‘buy’ rating, while one each have ‘hold’ and ‘sell’ ratings.
Despite the downgrade and a cut in price target, shares of Abbott India were trading 1.2% higher on Wednesday at ₹26,025. The stock is down close to 10% so far in 2026.
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