Buy Ipca Laboratories Ltd., target Rs 611.0 : IndiaNivesh

IndiaNivesh has Buy call on Ipca Laboratories Ltd. with a target price of Rs 611.0. The current market price of Ipca Laboratories Ltd. is 520.45. Time period given by analyst is year, when Ipca Laboratories Ltd. price can reach defined target. The brokerage believes that the market has already factored in the known negatives and any resolution of FDA issues maytrigger a sharp re-rating of the stock. At current mar ket price of Rs 516.65, the stock is trading at 20.5 times FY17 EPS of Rs 26 and 17.1 times of FY18 earnings per share of Rs 30.6.