Feb 15, 2017 03:36 PM IST | Source: Moneycontrol.com
Buy Lupin; target of Rs 1880: Centrum
Centrum is bullish on Lupin has recommended buy rating on the stock with a target price of Rs 1880 in its research report dated February 09, 2017.
Centrum's research report on Lupin
In addition the pharma major’s Goa facility has been cleared by the US FDA. We believe the company’s robust growth across key markets coupled with Lupin+Gavis’ strong pipeline of 344 ANDAs will drive future growth. Key positive risk to our assumptions would be strong growth in the US market and key negative risk would be slower growth in the domestic market.
We maintain our Buy rating on Lupin Ltd with a TP of Rs 1,880 (earlier Rs 1,810), based on 23x March’19 EPS of Rs81.9. Lupin’s Q3FY17 revenues and margin were higher than our estimates but net profit missed expectations. Lupin reported revenue growth of 26% YoY, 330bps improvement in margin to 27.1%, and 21% growth in net profit.
For all recommendations, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.