Sharekhan recommended Hold rating on Glenmark Pharmaceuticals with a target price of Rs 595 in its research report dated May 30, 2019.
Sharekhan's research report on Glenmark Pharmaceuticals
Weak Q4FY2019 performance due to increased pricing pressure in the company’s product portfolio in the U.S. We feel the company will deliver sales and profit CAGR of 16% and 30%, respectively, over FY2019-FY2021. Debt continues to remain a near-term concern, despite stable business outlook.
We maintain our Hold recommendation on the stock with lowered PT of Rs. 595.
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.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.