Motilal Oswal is bullish on Lupin has recommended buy rating on the stock with a target price of Rs 1000 in its research report dated February 06, 2019.
Motilal Oswal's research report on Lupin
Revenue increased ~8% YoY to INR42.9b (our estimate: INR42b) in 3QFY19, led by domestic formulation (DF) (+11% YoY to INR12b; 28% of sales) and API (+35% YoY to INR3.6b; 8% of sales) businesses. Growth was partly offset by a 1% YoY decline in US sales (INR14b, 33% of sales) and moderate growth in Asia Pacific, Europe, the Middle East, Africa, and Latin America. LPC received licensing income (MALT1 Inhibitors) of INR2.1b from Abbvie.
We maintain Buy on the stock. Progress on resolving the warning letter at its Goa/Indore sites would be the key event to track over next 3-6 months, in addition to key launches.
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