New Delhi, Oct. 23 -- Brokerage firm PL Capital has initiated coverage on newly listed stock Sai Lifesciences, with a 'Buy' rating and a target price of Rs.1,620 per share, seeing an upside potential up to 16% over the current market price of Rs.1,394.

PL Capital believes the company is well positioned to benefit from increasing pharmaceutical outsourcing, a deep commercial pipeline and capacity expansion, supported by its integrated contract research, development and manufacturing organisation (CRDMO) platform.

In its report, the brokerage further said that Sai Life Sciences has established an integrated platform spanning drug discovery, development and manufacturing, enabling it to support pharmaceutical and biotechnology companies ac...