Buy Torrent Pharmaceuticals Ltd. target Rs 1730 : CLSA
CLSA upgraded Torrent Pharma to buy from outperform earlier with a 12-month target price to Rs 1730.
By ETMarkets.com | Updated:
CLSA has a buy call on Torrent Pharmaceuticals Ltd. with a target price of Rs 1730 .The current market price of Torrent Pharmaceuticals Ltd. is Rs 1291.5
Time period given by analyst is year when Torrent Pharmaceuticals Ltd. price can reach defined target.
Torrent's India business which comprises of almost 35 per cent of total sales continues to gain momentum.
Strong execution resulted in sharp improvement in productivity and profitability. CLSA expects US sales to recover in FY18 led by 10-12 new launches.
Ebitda margin should remain strong despite high R&D spend to accelerate US filings, said the brokerage note.
Torrent Pharma is a solid domestic franchise and has a strong presence in EMs which makes the stock attractive in the mid-cap pharma space.
Time period given by analyst is year when Torrent Pharmaceuticals Ltd. price can reach defined target.
Torrent's India business which comprises of almost 35 per cent of total sales continues to gain momentum.
Strong execution resulted in sharp improvement in productivity and profitability. CLSA expects US sales to recover in FY18 led by 10-12 new launches.
Ebitda margin should remain strong despite high R&D spend to accelerate US filings, said the brokerage note.
Torrent Pharma is a solid domestic franchise and has a strong presence in EMs which makes the stock attractive in the mid-cap pharma space.
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