UPL

01.02.2022 - Jefferies on UPL Maintain Buy CMP 776 Target 1005
01.02.2022 - CLSA on UPL Maintain Buy CMP 776 Target 1100
06.01.2022 - CLSA On UPL Maintain Buy CMP 764 Target 1100
06.01.2022 - CLSA On UPL Maintain Buy Target 1100
16.12.2021 - Antique on UPL - Maintain Buy - Target Rs.960

 Jefferies on UPL (AR Analysis)  : 30.08.2021

*Buy, TP Rs 965
*UPL envisages to grow margin-accretive Differentiated Solutions from 29% of sales now to 50% by FY26 
*Innovation rate could rise to 30% over 3-5 yrs (21% now) 

*ESG focus continues & Synergies on track