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Buy Cipla; target of Rs 1150: Sharekhan

Sharekhan is bullish on Cipla has recommended buy rating on the stock with a target price of Rs 1150 in its research report dated July 29, 2022.

July 31, 2022 / 02:42 PM IST
 
 
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Sharekhan's research report on Cipla


Cipla reported weak results for Q1FY23 on a y-o-y basis given the high base due to Covid-led demand. however sequentially, there has been a marked improvement with the operating profit and PAT staging a double digit growth. The outlook for US business is strong backed by growth in the respiratory products and high-value launches being lined up in H2FY23 in the US markets. Cipla expects to outperform the Industry growth in the domestic markets, backed by strong growth in the acute as well as chronic therapies, new brands and likely traction in consumer business.


Outlook


We maintain our Buy recommendation on Cipla Limited with an unchanged PT of Rs. 1,150. While there are near-term challenges in the form of likely cost pressures, long-term growth drivers are in place.


For all recommendations report, click here

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Cipla - 290722 - khan

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first published: Jul 31, 2022 02:39 pm
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