Ranbaxy an outperformer, tgt Rs 560: P Lilladher

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Prabhudas Lilladher has maintained outperformer rating on Ranbaxy Laboratories with target price of Rs 560 in its April 15, 2008 report. "RLL has announced the demerger of its R&D relating to Drug Delivery Research (DDR) for enhancing shareholder value. The company currently has eight molecules in different stages of development. This would result in reduction of R&D cost by over Rs 1.0 billion for RLL and hence will improve profitability."

 

" We expect the company to report EPS of Rs 20.5, Rs 32.0 and Rs 42.9 for CY08, CY09 and CY10 respectively, including FTF opportunities. The stock currently trades at 21.6x, 13.9x and 10.4x based on CY08E, CY09E and CY10E earnings. We rate RLL an Outperformer with a price target of Rs 566, a 27% upside over CMP. A detailed report will follow in due course." says Prabhudas Lilladher report. 

 

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