Buy Lupin, target Rs 1950 : Bank of America Merrill Lynch

Bank of America Merrill Lynch has a buy call on Lupin with a target price of Rs 1950 .The current market price of Lupin Ltd. is Rs 1527 The brokerage house gave a year for Lupin price to reach the defined target. The regulatory overhang should recede post-Goa Establishment Inspection Report (EIR). The EIR should raise investor confidence in management's coordinated efforts. The global investment bank highlights Lupin as the top pick in the Indian pharma sector. Goa accounts for 50 per cent of current US supplies, and 30 per cent of pending ANDAs. Renvela/Renagel/Welchol/ Wellbutrin XL are all filed from Goa, said the investment bank..