Jefferies maintains 'buy' on Syngene International, target price of Rs 350

Jefferies has a buy rating on Syngene International with a target price of Rs 350. The company's FY20 growth has been lower due to slower ramp-up of biologics manufacturing, said Jefferies. Syngene remains well placed to gain market share and see strong earnings traction over the medium term, said Jefferies. Shares of Syngene International ended up 1.7% at Rs 298.65 on Wednesday.