Sharekhan has given Buy recommendation for Lupin with a target price of Rs. 1210 in its research report issued on Dec 20, 2021
Sharekhan’s research report on Lupin
Lupin’s Goa plant recently received an EIR from the USFDA and this bodes well as it would enable Lupin to increase the new launch momentum in US markets and offset higher competitive pressures to a certain extent in near term. A strong product pipeline in the limited competition space, could unfold starting 2HFY23, this coupled with traction in existing products are the key growth drivers for US business. Lupin sees the India business growing in double digits and aims to grow 20-30% higher than the industry growth driven by focus on chronic therapies.
Outlook
We re-iterate Buy recommendation on Lupin with unchanged PT of 1210. A correction of 24% in the stock price over the past 4 months provides investors a good opportunity.