Credit Suisse upgrades Sun Pharma to 'outperform' from 'neutral'
Credit Suisse has upgraded shares of Sun Pharmaceutical Industries to 'outperform' from 'neutral' and raised target price to Rs 925 from Rs 775 stating that checks suggest the company has taken a price increase in all branded products in the US.
By ET Bureau | Updated:
By Sanam Mirchandani
MUMBAI: Credit Suisse has upgraded shares of Sun Pharmaceutical Industries to 'outperform' from 'neutral' and raised target price to Rs 925 from Rs 775 stating that checks suggest the company has taken a price increase in all branded products in the US.
Sun Pharma has taken a price increase in branded portfolio across Taro, Ranbaxy and Dusa products which should raise the company's EBITDA by $35 million on an annualised basis, Credit Suisse said in a note today.
Credit Suisse is positive on the drug maker also because the company's transition to branded products is gaining traction and it is close to finishing remediation at Halol plant.
At 12.50 pm, shares of Sun Pharma were up 1.6% at Rs 815.75 on the BSE.
MUMBAI: Credit Suisse has upgraded shares of Sun Pharmaceutical Industries to 'outperform' from 'neutral' and raised target price to Rs 925 from Rs 775 stating that checks suggest the company has taken a price increase in all branded products in the US.
Sun Pharma has taken a price increase in branded portfolio across Taro, Ranbaxy and Dusa products which should raise the company's EBITDA by $35 million on an annualised basis, Credit Suisse said in a note today.
Credit Suisse is positive on the drug maker also because the company's transition to branded products is gaining traction and it is close to finishing remediation at Halol plant.
At 12.50 pm, shares of Sun Pharma were up 1.6% at Rs 815.75 on the BSE.
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