Buy Lupin, target Rs 2040 : HDFC Securities

HDFC Securities has a buy call on Lupin Ltd. with a target price of Rs 2040 .The current market price of Lupin Ltd. is Rs 1465.75 The brokerage gave a year 's time for Lupin Ltd. price to reach the defined target. The brokerage said topline is estimated to grow 33% YoY and EBITDA margins will be around 28% in Q2FY17. It said investors should monitor guidance on R&D expense for FY17, updates on launches, Goa facility remediation and progress of clinical trials in inhalers.