Motilal Oswal projects Emcure Pharma can rise about 33% to a Rs 2,330 target, valuing the stock at 28x forward earnings while it trades at 21x. The brokerage forecasts revenue CAGR of 15.2% for FY26 to FY28, domestic and international growth of 12.4% and 17.4%, and EBITDA CAGR of 22%, noting September 2026 sales rose 19.3% YoY.
