Glenmark 'firing on all cylinders': JPMorgan
GLENMARK-FIRING-ON-ALL-CYLINDERS-JPMORGAN:Glenmark 'firing on all cylinders' - J.P.Morgan
September 13, 2012 / 16:50 IST
Glenmark Pharmaceuticals gains 0.6% to Rs 434.60 after JPMorgan raises its price target on the stock to 515 rupees from 440 rupees after meeting the drug maker's chairman, Glenn Saldanha.
JPMorgan says Glenmark is reporting "strong" growth outlook for its core markets of India and the United States, according to a report dated on Tuesday.Glenmark is targeting revenue CAGR of 20% in the United States over the next three years as its product pipeline provides "strong visibility."Latin America and Eastern Europe operations are close to breaking even, JPMorgan also reports after meeting Saldanha.Glenmark 's management is also confident of sustaining cah flow, given limited capital spending over the next two to three years. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
