Sharekhan has given Buy recommendation for Sun Pharmaceutical Industries with a target price of Rs. 1000 in its research report issued on Jan 31, 2022

Sharekhan’s research report on Sun Pharmaceutical Industries

Q3FY22 was a strong quarter and higher other income led to earnings ahead of estimates. The topline and earnings clocked a growth of 11.6% YoY and adjusted PAT grew by 16.2%YoY. Strong growth outlook across key geographies of India and US, aided by expanding product portfolio, increasing reach and penetration, growth in base business coupled with traction in global specialty business would be the growth drivers for Sun Pharma. Improved growth prospects, healthy financials and strong balance sheet position would be the key positives for Sun pharma.

Outlook

We retain our Buy recommendation on the Sun Pharmaceutical Industries (Sun Pharma) with a revised PT of Rs 1,000.

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