Buy Aurobindo Pharma, target Rs 793: JM Financial
Buy Aurobindo Pharma at a price target of Rs 793.
JM Financial has a buy call on Aurobindo Pharma with a target price of Rs 793.
The current market price of Aurobindo Pharma is Rs 774.40.
Time period given by the brokerage is half-yearly when Aurobindo Pharma price can reach the defined target.
"The stock trades at 14.7x its FY20 earnings and 9.5x FY20 EV/EBITDA. Aurobindo Pharma currently has about about 519 ANDA filings. Continuation of ANDA filings and launch momentum along with debt reduction over time should help support stock performance over medium term. Rupee depreciation is expected to further aid margins. However, adverse currency fluctuation, delay in approvals and adverse regulatory hurdles," said JM Financial.
The current market price of Aurobindo Pharma is Rs 774.40.
Time period given by the brokerage is half-yearly when Aurobindo Pharma price can reach the defined target.
"The stock trades at 14.7x its FY20 earnings and 9.5x FY20 EV/EBITDA. Aurobindo Pharma currently has about about 519 ANDA filings. Continuation of ANDA filings and launch momentum along with debt reduction over time should help support stock performance over medium term. Rupee depreciation is expected to further aid margins. However, adverse currency fluctuation, delay in approvals and adverse regulatory hurdles," said JM Financial.
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