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Lupin an outperformer, target of Rs 1955: Karvy
Karvy Stock Broking has come out with a research report on Lupin. The broking firm has rated the stock as outperformer with a a price target of Rs
1,955.
Karvy Stock Broking has come out with a research report on Lupin . The broking firm has rated the stock as outperformer with a a price target of Rs 1,955.
The report says, "Lupin's focus on diversified revenue streams from different markets will enable the company to have stability of earnings. Increased focus on India and regulated markets with bias towards formulations and niche opportunities are the key pillars of Lupin's strategy."
"We believe with 18.7 % CAGR revenue growth in the period FY 10-12E aided by US generics growth of 27% in the same period and an upward margin bias on account of prudent product selection and site transfer of Japanese product basket will aid the profit momentum. Lotrel upside for 3 months is not included in our core model with an EPS upside of Rs 9.3 in FY10 and beginning FY 11E. We downgrade our FY 11E nos by 3.8 % to Rs 90.4 on account of rupee rate of Rs 45 as against Rs 46 earlier and further dilution of equity on account of FCCB conversion. We introduce our FY 12E nos at Rs 108.5 and roll over our price target to FY 2012E. We rate the stock as Outperformer with a a price target of Rs 1,955 (upgrade of 6.8% in price target) based on 18x FY 2012E," according to report.
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