7/1/2025, 10:37:02 am

Jefferies upgrades Biocon to 'underperform', raises price target by 43%

International brokerage Jefferies has upgraded its rating on drugmaker Biocon to 'underperform' citing positive newsflow around the regulatory approval of its Bengaluru manufacturing unit. Building on the optimism, Jefferies also lifted its price target for the stock by a whopping 43 percent to Rs 400, translating into an upside potential of around 12 percent from Monday's closing price.