Buy Sun Pharmaceutical Industries: target of Rs 660 : Sharekhan
Sharekhan is bullish on Sun Pharmaceutical Industries has recommended buy rating on the stock with a target price of Rs 660 in its research report dated December 14, 2020.
December 15, 2020 / 02:27 PM IST
Sharekhan's research report on Sun Pharmaceutical Industries
Sun Pharma’s specialty business is on a strong footing and traction is expected to improve further backed by rising prescriptions and geographical expansion. This coupled with a strong product pipeline would drive US business. Strong growth momentum in chronics, likely traction in recent new launches and a possible improvement in acute therapies is likely to fuel growth in the domestic formulations business. Healthy outlook for specialty portfolio, improved growth prospects, healthy balance sheet, and improving return ratios would support P/E multiple expansion.
We retain a Buy recommendation on Sun Pharmaceutical Industries with a revised PT of Rs. 660.
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