Macquarie rates 'outperform' to Sun Pharmaceuticals

Sun Pharmaceuticals
CMP: Rs 1,179
Target Price: Rs 1,370

Macquarie Research has given an ���outperform��� rating to Sun Pharmaceuticals, after it received a US-Food and Drug Administration nod for selling a generic version of Eloxatin.

���If both the Eloxatin and Effexor XR opportunity play out this financial year, it could change the story from near-term earnings pressure to near-term earnings momentum,��� the foreign brokerage said in a report.

���In our view, long-term fundamentals remain intact for Sun, despite near-term Caraco issues. We continue to highlight current weakness as an entry opportunity for investors,��� it added.


Disclaimer: The above stock is picked up at random from research reports of brokerage houses. Investors are advised to use their own judgement before acting on these recommendations. ET does not associate itself with the choices.