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Last Updated : Sep 23, 2020 12:14 PM IST | Source: Moneycontrol.com

Buy Aurobindo Pharma; target of Rs 975: Sharekhan

Sharekhan is bullish on Aurobindo Pharma has recommended buy rating on the stock with a target price of Rs 975 in its research report dated September 22, 2020.

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Sharekhan's research report on Aurobindo Pharma


Aurobindo is witnessing improved traction in its US business, which constitutes around half of overall sales. A sturdy new product pipeline, easing of pricing pressures, opportunities arising from shortage of products in the US, and expected recovery in the injectable business would be key drivers for US business. Improving growth prospects, strengthening balance sheet, attractive valuations are the key positive and would support P/E multiple expansion. A 16% correction in stock price in little over a month provides investors a good entry point.


Outlook


We upgrade our recommendation on Aurobindo Pharma (Aurobindo) to Buy from Hold and retain our PT of Rs. 975.


For all recommendations report, click here


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First Published on Sep 23, 2020 12:14 pm
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