Motilal Oswal has given Buy recommendation for Sun Pharma recommended buy rating on the stock with a target price of Rs 1000 in its research rep with a target price of Rs. 1000 in its research report issued on Feb 01, 2022

Motilal Oswal’s research report on Sun Pharma

SUNP’s 3QFY22 performance was operationally better than our estimates, driven by Branded Generics and US (excluding Taro) segments. It posted an elevated EBITDA run-rate of INR26b for the third consecutive quarter. It has a net cash of USD2b, implying funds at its disposal for inorganic growth. We largely maintain our FY22E/FY23E/FY24E earnings estimate and arrive at a TP of INR1,000/share, based on 25x 12-month forward earnings.

Outlook

We remain positive on SUNP on the back of: a) superior execution in its Specialty portfolio, b) better-than-industry growth in the Branded Generics market of Domestic Formulation (DF) as well as other emerging markets, c) sustained launch momentum in US Generics, and d) delayed R&D spend in the Specialty portfolio. We reiterate our Buy rating.

More Info on Trent

At 17:30 Sun Pharmaceutical Industries was quoting at Rs 892.05, up Rs 57.90, or 6.94 percent.

It has touched an intraday high of Rs 895.40 and an intraday low of Rs 841.10.

It was trading with volumes of 397,117 shares, compared to its thirty day average of 181,328 shares, an increase of 119.00 percent.

In the previous trading session, the share closed up 0.83 percent or Rs 6.90 at Rs 834.15.

The share touched its 52-week high Rs 895.40 and 52-week low Rs 561.65 on 01 February, 2022 and 24 February, 2021, respectively.

Currently, it is trading 0.37 percent below its 52-week high and 58.83 percent above its 52-week low.

Market capitalisation stands at Rs 214,032.68 crore.

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