Buy Cipla; target of Rs 740: Centrum
Centrum is bullish on Cipla has recommended buy rating on the stock with a target price of Rs 740 in its research report dated February 08, 2017.
Centrum's research report on Cipla
We maintain our Buy rating on Cipla, with a TP of Rs 740 (earlier Rs610) based on 24x March’19E EPS of Rs 30.7. Cipla’s Q3FY17 results were in-line with our expectations. A slew of positive factors led to a 16% YoY growth in the company’s revenues, 390bps rise in margin to 18.6% and 44% growth in net profit.
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