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Last Updated : Jun 14, 2018 05:17 PM IST | Source: Moneycontrol.com

Buy Sun Pharma; target of Rs 610: Motilal Oswal

Motilal Oswal is bullish on Sun Pharma has recommended buy rating on the stock with a target price of Rs 610 in its research report dated March 06, 2018.

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Motilal Oswal's research report on Sun Pharma

The Halol facility received 23 483 observations post US FDA inspection in September 2014. Later, in December 2015, US FDA had issued a warning letter for the facility. In November/December 2016, US FDA re-inspected the facility and issued nine 483 observations and maintained OAI status. OAI is given when objectionable conditions are found and regulatory action should be recommended.

Outlook

We maintain Buy, with a revised TP of INR610 (24x FY20E EPS). Our earlier TP was INR560 (22x FY20E EPS). We have increased our target multiple, given enhanced visibility of Halol resolution by 2HFY19.

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.

First Published on Mar 14, 2018 04:56 pm
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