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Last Updated : Nov 11, 2019 04:46 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 November 07, 2019.

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Sharekhan's research report on Cipla


Cipla reported a strong set of numbers for Q2FY2020. Results were ahead of estimates. Resolution of distributor related issues in the domestic business and new product launches lined up in the near to medium term across geographies would be the key growth drivers. We expect Cipla’s topline and PAT to clock a CAGR of 11% and 25%, respectively, over FY2019-FY2022.


Outlook


We maintain our Buy recommendation on the stock with a revised PT of Rs. 540.

For all recommendations report, click here

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First Published on Nov 11, 2019 04:46 pm
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