Edelweiss is bullish on Sun Pharmaceuticals has recommended buy rating on the stock with a target price of Rs 860 in its research report dated February 14, 2017.
Edelweiss' research report on Sun Pharmaceuticals
We risk‐adjust our estimates and cut FY17/18E EPS by 13%/19%, and introduce FY19E. While its journey to transform into a specialty player is taking a toll on profits, we believe these investments will help SUNP build a sustainable base business over time. Maintain ’BUY’ with rolled TP of INR 860 (22x FY19E EPS).
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