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Last Updated : Feb 26, 2019 05:07 PM IST | Source: Moneycontrol.com

Buy Lupin; target of Rs 1000: Motilal Oswal

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.

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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.

Outlook

Close

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.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



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First Published on Feb 26, 2019 05:07 pm
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