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Last Updated : Feb 13, 2020 12:51 PM IST | Source: Moneycontrol.com

Buy Cipla target of Rs 540: Sharekhan

Sharekhan is bullish on Cipla has recommended buy rating on the stock with a target price of Rs 540 in its research report dated February 05, 2020.

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Sharekhan's research report on Cipla


Cipla reported muted results for Q3FY2020. PAT missed estimates. India business is on strong footing with the management looking to merge all the three segments in the India business under one, leading to generation of significant synergies. Strong new launch line up is expected to drive the US business. We expect Cipla’s topline and PAT to clock a CAGR of 13% and 23%, respectively, over the next two years.


Outlook


We maintain our Buy recommendation on the stock with an unchanged PT of Rs. 540.


For all recommendations report, click here


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First Published on Feb 10, 2020 03:48 pm
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