Sharekhan is bullish on Ipca Laboratories has recommended buy rating on the stock with a target price of Rs 1590 in its research report dated February 13, 2020.
Sharekhan's research report on Ipca Laboratories
Strong growth outlook across both the API and formulations space would be the key growth driver. Resolution of the USFDA hurdles would be a positive and will lead to earnings upgrades. We expect the company to report a Sales and PAT CAGR of 16% and 20% respectively between FY2020 to FY2022.
We maintain Buy recommendation on IPCA Labs with a revised PT of Rs 1590. Ipca reported impressive performance for Q3FY2020 with the results ahead of estimates.
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