Buy Sun Pharmaceutical Industries: target of Rs 612: Sharekhan

Sharekhan's research repor on Sun Pharmaceutical Industries

Q2 performance was strong with revenue and earnings beating estimates. Management expects domestic formulations business to improve further led by new launches and a gradual improvement in the acute therapies, while the chronic segment is likely to grow strongly. Pick up in the specialty business and sturdy new product pipeline would enable US business growth. Improved growth prospects, healthy balance sheet, and improving return ratios would be key positives.

Outlook

We upgrade our recommendation on Sun Pharmaceutical Industries from Hold to Buy with a revised PT of Rs. 612.

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.

Read More