HDFC Securities has upgraded Dr Lal PathLabs to 'Buy' from 'Add', citing sustained revenue momentum driven by patient volume growth, a growing wellness segment, and portfolio innovation. The brokerage anticipates expansion into Tier-3 and Tier-4 cities, alongside new wellness packages and specialized tests. HDFC Securities raised the target price to 1,740, implying a potential 19% upside, based on a 44x Q3 FY28E EPS multiple.