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 August 22, 2014, Wockhardt closed at Rs 709.70, up Rs 19.20, or 2.78 percent. The 52-week high of the share was Rs 847.95 and the 52-week low was Rs 336.60.
The company's trailing 12-month (TTM) EPS was at Rs 17.10 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 41.5. The latest book value of the company is Rs 85.19 per share. At current value, the price-to-book value of the company is 8.33.
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