HDFC Securities is bullish on Cipla has recommended buy rating on the stock with a target price of Rs 605 in its research report dated February 07, 2019.
HDFC Securities' research report on Cipla
Cipla’s reported an in-line quarter with revenue at Rs 40.1bn, up 2% YoY/ flat QoQ. EBITDA stood at Rs 7.1bn with margin at 17.7%, down 326bps YoY due to continued API cost inflation and falling prices in the tender business. PAT at Rs 3.3bn was down 17/12% YoY/QoQ (in-line).
Maintain BUY with a TP of Rs 605 (22x Dec-20E EPS).
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