Buy Aurobindo Pharma: Target Of Rs 1024: Sharekhan
Sharekhan is bullish on Aurobindo Pharma recommended buy rating on the stock with a target price of Rs 1024 in its research report dated November 12, 2020.
Nov 15, 2020 / 11:31 AM IST
Sharekhan's research repor on Aurobindo Pharma
Aurobindo Pharma Limited reported strong numbers for Q2FY21 and the company met the street’s high expectations. Improving demand traction across US, Europe ( due to likely traction in injectables) coupled with a capex of $180-200 mn announced by the company, provide ample visibility on growth. Going ahead focus on developing a strong portfolio of specialty products (biosimilars, Oncology, inhalers, transdermal patches etc) would be key growth drivers. Improving growth prospects and strengthening balance sheet, due to a debt free status targeted by end FY2022 would support P/E multiple expansion.
We retain our Buy recommendation on the stock with a revised PT of Rs. 1,024.
For all recommendations report, click here
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