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Buy Lupin, target of Rs 954: Prabhudas Lilladher
Prabhudas Lilladher has recommended a buy rating on Lupin with a target price of Rs 954. Lupin is the fastest growing company among the top 10 pharma companies in India.
Prabhudas Lilladher has recommended a buy rating on Lupin with a target price of Rs 954 in its July 9, 2008 research report. "Lupin is the fastest growing company among the top 10 pharma companies in India.With strong growth in the domestic and US markets, and with its entry into the lucrative Japanese market, we expect the company to post 36% CAGR in net sales and 42% CAGR in net profit over the next two years."
"At the CMP of Rs 685, the stock trades at 13.2x FY09E EPS of Rs 52.0 and 9.3x FY10E EPS of Rs 73.4. We initiate coverage on the company and recommend BUY rating with a target price of Rs 954 in the next 12 months (based on 13x FY10E earnings), an upside of 39.2% over the CMP," says Lilladher's research report.
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