Buy Lupin Ltd., target Rs 1831.0 : Karvy Stock Broking Ltd

Karvy Stock Broking Ltd has Buy call on Lupin Ltd. with a target price of Rs 1831.0. The current market price of Lupin Ltd. is 1569.5. It has downgraded its revenues for FY17 by 2.5% and FY18 by 0.9% on account of downgrade in US, domestic formulations and API business. It said it has upgraded its EPS estimates by 6.3% for FY17 and 2.3% for FY18. Lupin fell 3.89% to Rs 1,545.05 on Wednesday.