Buy Ipca Laboratories target of Rs 1590: Sharekhan
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.
February 14, 2020 / 03:36 PM IST
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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