Accumulate Aventis Pharma for target of Rs 1027: Angel

MUMBAI: Angel Broking has advised to accumulate share of Aventis Pharma for a price target of Rs 1027.

���Aventis Pharma will announce its 1QCY2009 results. We expect net sales to de-grow by 8.0% yoy to Rs199.5cr on account of termination of distribution agreement for Rabipur vaccines. We expect operating margin to contract by 230bp to 15% and net profit to decline by 7% to Rs 31.7 crore. We recommend an Accumulate on the stock with a target price of Rs1027,��� the brokerage report said.