Shares in Wockhardt gain 1.5 percent to 1,936.70 rupees after Bank of America-Merrill Lynch initiates coverage on the stock with a "buy" rating and a target price of Rs 2,565.
Shares in Wockhardt gain 1.5 percent to Rs 1,936.70 after Bank of America-Merrill Lynch initiates coverage on the stock with a "buy" rating and a target price of Rs 2,565.
BofA-Merrill says the stock will benefit from a "likely" exit from a debt restructuring process, improved cash flows that could allow Wockhardt to turn debt-free by fiscal 2015, a recovery in domestic growth, and "consistent" earnings surprises.
Wockhardt stock price
On March 05, 2015, Wockhardt closed at Rs 1694.75, up Rs 42.70, or 2.58 percent. The 52-week high of the share was Rs 1703.00 and the 52-week low was Rs 444.30.
The company's trailing 12-month (TTM) EPS was at Rs 33.45 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 50.67. The latest book value of the company is Rs 85.14 per share. At current value, the price-to-book value of the company is 19.91.
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