Moneycontrol
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.

 
 
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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.


Outlook


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.

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