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Buy Ranbaxy, target of Rs 644: IL&FS Investsmart
IL&FS Investsmart has recommended a buy rating on Ranbaxy Laboratories with a target price of Rs 644. Ranbaxy Labs (Ranbaxy), among the top 10 generic companies in the world, continues to write the rule book for building leadership across the global pharma market.
IL&FS Investsmart has recommended a buy rating on Ranbaxy Laboratories with a target price of Rs 644. "Ranbaxy Labs (Ranbaxy), among the top 10 generic companies in the world, continues to write the rule book for building leadership across the global pharma market. A consistent focus on developed and emerging markets, monetisation of para IV pipeline, and reduction in R&D costs, now act as multiple growth drivers for the company."
"We expect Ranbaxy's revenues and net profits to grow at a CAGR of 14.8% (excluding FTF opportunities) and 17.7% through CY07-09E respectively. The company is likely to post a fully diluted EPS of Rs 19 in CY08E and Rs 26.9 in CY09E. We initiate coverage on the stock with a 'BUY' rating and price target of Rs 644 (SOTP valuation)," says IL&FS Investsmart's research report.
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