Indivior (INDV.L), mcap=£2.1bn, price £2.91 vs. £2.69

Pitch: Pharma company with a number of drugs on the market and with ⅓ of the market cap in net cash. The upside scenario is mostly based on one of its drugs continuing to gain traction and reaching blockbuster status. Shares are down due to legacy DOJ fines and key drug going generic.

Valuation: trades 12x TTM op. income and at 4.5x projected 2024 op. income. The target of £5.7/share is based on 8x 2024 projected income.

Exp. gain: 100% in two years

Full INDV.L write-up (free guest account required):

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