Indian contract research firms Divi's and Cohance gain as Jefferies bullish on sector

** India's Divi's Laboratories DIVI.NS and Cohance Lifesciences COHA.NS climb 1% and 3%, respectively

** Jefferies says Indian contract research and drug makers have "firehose of opportunities," led by factors such as supply chain diversification beyond China and healthy buildup of molecules such as obesity drugs (GLP-1)

** Brokerage upgrades DIVI to "buy" from "hold" and ups PT to 7,150 rupees from 6,750 rupees

** Also starts coverage on COHA with "buy" and PT of 1,150 rupees

** Jefferies says China+1 can be an annual $700 mln sales opportunity for Indian CRDMOs, adding it expects annual revenue growth OF 18% for sector over FY25-30

** YTD, DIVI up ~1%, while COHA down 22%