Sharekhan recommended Hold rating on Lupin with a target price of Rs 965 in its research report dated August 07, 2020.
Sharekhan's research repor on Lupin
Lupin’s Q1FY21 numbers were weak; sales declined by 9% yoy, as US revenue fell by 21%, while India revenues declined 1.7% y-o-y. Operating profits were down by 34.6% y-o-y due to high cost pressures. PAT declined by 59.6% y-o-y to Rs. 106.9 crore. Lupin expects US revenues to improve gradually, led by ramp-up of Levothyroxin, stabilisation in base business, new launches and re-introduction of Metformin. USFDA nod for gAlbuterol and resolution of USFDA issues are critical from growth perspective and are key monitorables.
Outlook
We retain a Hold recommendation on the stock with a revised PT of Rs. 965.
For all recommendations report, 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.
Read More