Sharekhan has given Buy recommendation for Sun Pharmaceutical Industries with a target price of Rs. 700 in its research report issued on Jan 29, 2021
Sharekhan’s research report on Sun Pharmaceutical Industries
Sun Pharma reported strong performance for Q3FY2021 with higher-than-expected earnings performance. Sun Pharma’s key geographies, US and India, are witnessing improved traction. Strong growth in chronic therapies, likely improvement in acute therapies & healthy product pipeline to drive India business. Pick up specialty business, new product launch pipeline to fuel US business growth. Improved growth prospects, healthy balance sheet, and improving return ratios would be key positives.
Outlook
We retain Buy recommendation on Sun Pharmaceutical Industries (Sun Pharma) with a revised PT of Rs 700.
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