Buy Aurobindo Pharma; target of Rs 965: ICICI Direct
ICICI Direct is bullish on Aurobindo Pharma has recommended buy rating on the stock with a target price of Rs 965 in its research report dated February 13, 2017.
ICICI Direct's research report on Aurobindo Pharma
We believe launches continuum, especially in the injectable space, can effectively neutralised channel consolidation and pricing pressure headwinds. Other important segment i.e. Europe is likely to fetch better margins on the back of product transfers to India and focussed approach. We have ascribed a target price of Rs 965, based on 19x (earlier 20x) FY19E EPS of Rs 50.7.
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