By Aditya Raghunath
Investing.com -- India’s largest pharma company, Sun Pharmaceutical Industries Ltd. (NS: SUN ), is in the good books of all brokerages after it reported its results for Q1 FY22. It reported a net profit of Rs 1,441.1 crore compared to loss of Rs 1,655.6 crore in the corresponding quarter in FY21. Revenue was up 28.2% at Rs 9,669.4 crore against Rs 7,582.5 crore.
The stock closed at Rs 773.95 on July 30. Motilal Oswal (NS: MOFS ) has given Sun Pharma a target of Rs 900. It said that it is positive on the company’s strategy in developed markets, and its complex generics pipeline and improving operating leverage. It has a buy call on the stock.
Citi has a buy call on Sun Pharma with a target price of Rs 910. It has raised its EPS (earnings per share) estimates for FY22/23/24 between 7-10%. It is also positive about the company’s specialty business picking up.
CLSA has a buy call on the stock with a target price of Rs 960. It is also positive eon the specialty business and expects a rerating on the stock.
Morgan Stanley (NYSE: MS ) is overweight on the stock with a target price of Rs 895 on the back of steady earnings growth.
The only underperform rating on the stock comes from Credit Suisse (SIX: CSGN ) with a target of Rs 640.
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