Sharekhan recommended Hold rating on Aurobindo Pharma with a target price of Rs 710 in its research report dated June 28, 2019.
Sharekhan's research report on Aurobindo Pharma
Increased regulatory hurdles at various plants will weigh on stock until successful resolution; Increase in remediation cost will impact margins and profitability. We expect the company to report sales and profit CAGR of 29% and 22%, respectively, over the next two years.
Warning Letter for Unit- XI likely to delay future product approvals which could impact FY2020 and FY2021 numbers.. Downgrade to Hold with downward revised Price Target (PT) of Rs 710.
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