Buy Cipla; target of Rs 950: Sharekhan
Sharekhan is bullish on Cipla has recommended buy rating on the stock with a target price of Rs 950 in its research report dated January 29, 2021.
February 08, 2021 / 04:07 PM IST
Sharekhan's research report on Cipla
Q3FY2021 was a strong quarter with margins expanding sturdily on account of cost optimisation efforts. Results are ahead of estimates. Cipla’s One-India strategy has played out well and has yielded synergies across its business. Increased prescription generation backed by sustained traction in chronic and a likely revival in the acute therapy would drive growth of the India business. Healthy growth prospects across geographies, strong earnings visibility, and a healthy balance sheet augur well and will be key positives for Cipla.
We maintain our Buy recommendation on the stock of Cipla with an unchanged PT of Rs. 950.
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