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Last Updated : May 17, 2020 09:29 PM IST | Source: Moneycontrol.com

Buy Cipla target of Rs 650: Sharekhan

Sharekhan is bullish on Cipla has recommended buy rating on the stock with a target price of Rs 650 in its research report dated May 15, 2020.

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Sharekhan's research report on Cipla


Cipla reported weak numbers for Q4FY2020 impacted by the operational challenges due to COVID-19 pandemic. While the topline was flat, Adj PAT dropped 52.7% yoy. Cipla’s move to merge three segments (prescription, trade generics and consumer health) in the Indian business are expected to yield synergies and would boost the performance of the India business. South Africa business is also expected to clock a healthy growth. US business is likely to gain traction backed by new products / fillings lined up. This would strengthen Cipla’s respiratory franchise in the US market.


Outlook


We maintain our Buy recommendation on the stock with an unchanged PT of Rs. 650.


For all recommendations report, click here


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First Published on May 17, 2020 09:29 pm
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