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    HomeNewsBusinessStocksHold Strides Shasun; target of Rs 1190: Religare

    Hold Strides Shasun; target of Rs 1190: Religare

    Religare recommended hold rating on Strides Shasun with a target price of Rs 1190 in its research report dated October 28, 2016.

    November 07, 2016 / 13:52 IST
       
       
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      Religare's research report on Strides Shasun

      STR’s Q2 results were broadly in line with our estimates. The company’s H2FY17 EBITDA guidance of Rs 4.4 bn-4.75 bn implies a much better second- half (5-6 US launches including gLovaza + Sevelamer supplies), and is in sync with our FY17 estimate of Rs 7.2 bn. Importantly, emerging markets and the institutional business, which weighed on Q1 margins, revived during Q2. While this is encouraging, rich valuations lead us to restate HOLD on the stock. Our Sep’17 TP stands at Rs 1,190 (Mar’17 TP: Rs 1,130).
      For all recommendations, 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.

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      first published: Nov 7, 2016 01:52 pm

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