Sharekhan has given Buy recommendation for Sun Pharmaceutical Industries with a target price of Rs. 900 in its research report issued on Jul 30, 2021
Sharekhan’s research report on Sun Pharmaceutical Industries
Sun Pharma’s Q1FY2022 results were strong driven by an impressive performance from the India, RoW and US businesses. A strong growth in chronic therapies, including the sub chronics along with new product launches would fuel growth in the domestic formulations business. Growth in the US business would be driven by a pick-up in specialty business coupled with traction from new product launches coupled with geographic expansion / increasing penetration.
Improved growth prospects across business and full resolution of all matters by the Department of Justice antitrust and civil division in the US generic markets would be key positives. we retain Buy recommendation with a revised PT of Rs. 900.