Up 64% in 6 months already; should you still buy Neogen Chemicals? Antique sees 23% upside potential - Check target
Antique Stock Broking initiated coverage on Neogen Chemicals with a Buy rating and a target price of Rs.3,050, implying a 23% upside. The brokerage expects strong earnings growth driven by battery chemicals, with revenue, EBITDA, and PAT growing at CAGRs of 45%, 49%, and 87% respectively from FY26 to FY30. The stock has surged 64% in 6 months but faces execution and debt management risks.
How this was made
The 30-second read
Why it matters
The new coverage may attract short‑term buying pressure, but execution risk remains high.
Market read
Analyst initiation could spark interest in Neogen, but the story is confined to Indian markets.
What to watch
Possible delays in battery plant commissioning, debt servicing pressure, and regulatory changes in US tax‑credit rules.
Background
Antique Stock Broking initiates coverage on Neogen Chemicals with a Buy rating and a 23% upside target.
Market effects
Potential boost to Indian specialty chemicals and battery chemicals sector if Neogen executes growth plan.
May influence investor sentiment on Indian mid‑cap stocks, especially in chemicals and battery supply chain.
Limited; primarily a domestic Indian market story.
Counterpoint
The high valuation multiples and execution risks could outweigh upside, suggesting caution.
Key entities
- CompanyNeogen Chemicals
Indian specialty chemicals maker expanding into battery chemicals.
- BrokerageAntique Stock Broking
Initiated coverage with a Buy rating and target price.
