Brokerages Bullish on Sun Pharma After Q1 Results

  • Investing.com
  • Stock Market News
Brokerages Bullish on Sun Pharma After Q1 Results
Credit: © Reuters.

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.  

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
  • tapan sur @tapan sur
    rs. 938 could be a traget.
    Like 0

Related Articles