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.
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.
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.
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