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.
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.
We maintain our Buy recommendation on the stock with an unchanged PT of Rs. 540.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year.