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Last Updated : May 02, 2019 03:09 PM IST | Source:

Buy Ipca Laboratories; target of Rs 1135: Sharekhan

Sharekhan is bullish on Ipca Laboratories has recommended buy rating on the stock with a target price of Rs 1135 in its research report dated April 30, 2019.

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Sharekhan's research report on Ipca Laboratories

Resolution of the USFDA issues could provide a further upside. Strong outlook for 2-3 years, led by growth across key business verticals such as domestic formulations, APIs and institutional anti-malarial drugs. Despite USFDA issues being unresolved, the company is on a strong footing. We expect sales and profit to clock a CAGR of 20% and 28%, respectively over FY2019-FY2021.


We re-initiate coverage on Ipca with a Buy recommendation and a price target of Rs 1,135, valuing stock at 20x FY2021E earnings.

For all recommendations report, click here

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First Published on May 2, 2019 03:09 pm
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