Sharekhan is bullish on Ipca Laboratories has recommended buy rating on the stock with a target price of Rs 1220 in its research report dated November 08, 2019.
Sharekhan's research report on Ipca Laboratories
Strong growth outlook, growth across all business verticals to lead to better profitability. Resolution of USFDA hurdles could provide further upside with the potential for upgrade of earnings estimates. We expect the company to report sales/profit CAGR of 19%/32% over FY2019-FY2021.
We maintain our Buy rating on IPCA with revised PT of Rs. 1,220. Ipca reported impressive performance for Q2FY2020 with results ahead of estimates.
For all recommendations report, click here
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