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Buy Sun Pharmaceuticals Industries; target of Rs 1300: Sharekhan

Sharekhan is bullish on Sun Pharmaceuticals Industries has recommended buy rating on the stock with a target price of Rs 1300 in its research report dated January 31, 2023.

February 02, 2023 / 04:45 PM IST
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Sharekhan's research report on Sun Pharmaceuticals Industries

Sun Pharmaceutical Industries Limited (Sun Pharma) reported results in line with expectations. Gross margins improved for the third consecutive quarter y-o-y in Q3FY2023 due to strong products mix, driven by continued growth in global specialty revenue. R&D spends as a percentage of sales stood at ~6%; management expects it to increase, going forward as it is investing to scale up the specialty business, especially in its core therapy areas.


Strong earnings visibility with promising products line up make it a better pick in the pharma space. The stock trades at 24.6x/20.3x its FY2024E/FY2025E EPS, we retain a Buy with a retained price target of Rs. 1,300.

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Sun Pharmaceutical Industries - 01 -01-2023 - khan

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first published: Feb 2, 2023 04:45 pm