Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    Loans
    Loans
    HomeNewsBusinessStocksBuy Sun Pharma; target of Rs 810: Centrum

    Buy Sun Pharma; target of Rs 810: Centrum

    Centrum is bullish on Sun Pharma has recommended buy rating on the stock with a target price of Rs 810 in its research report dated February 15, 2017.

    February 23, 2017 / 17:08 IST

    Centrum's report onSun Pharma

    SPIL’s revenue rose 11% YoY to Rs 79.13bn from Rs 71.22bn due to moderate growth in the US formulation and domestic markets. The company’s domestic business (26% of revenues) grew 5% YoY to Rs 19.69bn from Rs 18.75bn due to the impact of demonetisation.

    Outlook

    We maintain our Buy rating on Sun Pharma (SPIL) and revise our TP to Rs 810 (earlier Rs 850) based on 26x March’19E EPS of Rs 31.2. SPIL’s Q3FY17 results were above our expectations. The drug maker posted 11% YoY growth in revenues, 50bps decline in margins to 31%, and a 5% decline in net profit.

    For all recommendations, click hereDisclaimer: 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.

    Read More Read More

    first published: Feb 23, 2017 05:08 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347