Keynotes Financial Opiniery is bullish on Morepen Laboratories has recommended buy rating on the stock with a target price of Rs 24 in its research report dated March 22, 2019.
Keynotes Financial Opiniery's research report on Morepen Laboratories
Morepen Laboratories ltd is 31-year-old company. Company went to public in 1993. The first Morepen manufacturing plant was set up on the foothills of the Himalayas in the idyllic surrounding of Parwanoo. More pen’s state of art manufacturing facility in the picturesque environs of Baddi comprises a scientifically integrated complex of 10 plants, each with a specific product profile. The company’s extensive R &D facilities and factories are manned by a dedicated team of professionals who ensure stringent quality standards. Morepen is exporting products to several countries round the global. The company has shown its presence worldwide by touching almost 40 countries worldwide. The brand name of Dr. Morepen has a front ranking presence in the Wellness category. Its spectrum of popular OTC products, amongst which Burnol, Lemolate, Isabgol.
On the basis of Discount Cash Flow Valuation Method, we are recommending ‘Buy’ for the stock. Since the stock offers good opportunity, we initiate a ‘BUY’ signal on the stock with 12-month price target of Rs 24/- share an upside of 30% from current levels.
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