Buy Cipla, target of Rs 223: Indiabulls Securities

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Buy Cipla, target of Rs 223: Indiabulls Securities

Indiabulls Securities Research has maintained its buy rating on Cipla with a target price of Rs 223. The EBITDA margin rose by 148 bps yoy to 25.2% in Q3’09 on the strengths of an improved product mix and a depreciating rupee.

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Indiabulls Securities Research has maintained its buy rating on Cipla with a target price of Rs 223 in its February 2, 2009 research report. "The EBITDA margin rose by 148 bps yoy to 25.2% in Q3'09 on the strengths of an improved product mix and a depreciating rupee. We maintain a Buy rating on the stock with a target price of Rs 223," Indiabulls Securities' research report.

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