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Last Updated : Nov 11, 2019 04:45 PM IST | Source: Moneycontrol.com

Buy Ipca Laboratories target of Rs 1220: Sharekhan

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.

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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.


Outlook


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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First Published on Nov 11, 2019 04:45 pm
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