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Buy Aurobindo Pharma; target of Rs 1270: Centrum

Centrum is bullish on Aurobindo Pharma has recommended buy rating on the stock with a target price of Rs 1270 in its research report dated September 10, 2018.

September 18, 2018 / 13:02 IST
     
     
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    Centrum's research report on Aurobindo Pharma

    We maintain our Buy rating on Aurobindo Pharma (APL) and revise TP to Rs1,270 (earlier Rs1,010) based on 18x March’20E EPS of Rs70.4. APL has agreed to acquire the dermatology and oral solid business of Sandoz-a division of Novartis AG, Switzerland and three manufacturing sites in the US for $900mn(Rs63bn). This would make APL the second largest player in dermatology and second largest generic player by prescriptions in the US. The deal also includes over 300 products, pending ANDAs, in-licensed products and FTF products thus making APL a leading player in the US. APL is among our top picks in the pharma sector.

    Outlook

    We maintain our Buy rating on Aurobindo Pharma (APL) and revise TP to Rs1,270 (earlier Rs1,010) based on 18x March’20E EPS of Rs70.4.

    For all recommendations report, click here

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    Broker Research
    first published: Sep 12, 2018 04:14 pm

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