Morgan Stanley has maintained overweight call with a target at Rs 948 per share.
Lupin share price gained nearly 3 percent in early trade on March 3 as brokerages expect an upside of up to 50 percent in the stock.
Credit Suisse has maintained outperform rating on the stock with a target of Rs 810 per share.
According to Credit Suisse, downside in the stock is limited as the current price only values India and emerging markets on FY21e earnings. Meanwhile, US sales ramp-up should be driven by market share gains in Levothyroxine.
The next catalysts are approval of bEnbrel & gFostair in EU, it added.
Morgan Stanley has maintained overweight call with a target at Rs 948 per share.
The first ANDA filer, Perrigo received US FDA approval for gProair. It is the 1st metered dose inhaler to be approved by US FDA in 20+ years, said Morgan Stanley.
The company expects approval sometime in H1FY21 & Cipla by end of FY21. Lupin & Cipla can gross sizable value if they can get to market in FY21, it added.
At 09:23 hrs Lupin was quoting at Rs 641.65, up Rs 12.35, or 1.96 percent on the BSE.Subscribe to Moneycontrol Pro's Annual plan for Rs 399/- for the first year. Use coupon PRO2020 (Available on Web & Android only).
