Buy GlaxoSmithKline Consumer Healthcare., target Rs 7500: Bank of America Merrill Lynch

Bank of America Merrill Lynch has a buy call on GlaxoSmithKline Consumer Healthcare Ltd. with a target price of Rs 7500. The current market price of GlaxoSmithKline Consumer Healthcare Ltd. is Rs 6223.35. Time period given by analyst is year, when GlaxoSmithKline Consumer Healthcare Ltd. price can reach defined target. The global brokerage firm is of the view that GSK is poised to surpass $10bn market cap the fastest. BofA-ML expects a cyclical upturn in FY2016-19 after poor revenue growth in FY2016. BofA-ML views Horlicks as a natural beneficiary of increasing education spending. The global brokerage firm forecasts sales growth at 15 per cent CAGR over FY2016-19, volume growth of 7 per cent.