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Feb 14, 2017, 06.33 PM | Source: Moneycontrol.com

Buy Aurobindo Pharma; target of Rs 1050: Motilal Oswal

Motilal Oswal is bullish on Aurobindo Pharma has recommended buy rating on the stock with a target price of Rs 1050 in its research report dated February 10, 2017.

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Buy Aurobindo Pharma; target of Rs 1050: Motilal Oswal

Motilal Oswal is bullish on Aurobindo Pharma has recommended buy rating on the stock with a target price of Rs 1050 in its research report dated February 10, 2017.

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Motilal Oswal's research report on Aurobindo Pharma

Aurobindo reported consolidated revenue of INR 39.1b (up 12% YoY; 1% above estimate). However, EBITDA of INR 8.9b (up 8.7%) was 5% below our estimate and adjusted PAT of INR 5.6b (up 7.4% YoY) was 7.5% below our estimate. Miss in numbers can largely be attributed to 4% lower growth in the US due to one-time charge-backs / rebates and one-off item of USD4m in other expenses.

Outlook

ARBP trades at 14x FY18E EPS, at >25% discount to peers. The valuation gap is expected to narrow on account of the company’s increasing profitability, strong earnings growth trajectory (19% CAGR till FY19E), and improving free cash flow. ARBP remains one of our top picks in the sector, with a target price of INR 1,050 (20x 1HFY19E EPS).

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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.

To read the full report click here

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Buy Aurobindo Pharma; target of Rs 1050: Motilal Oswal

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