Neutral Glenmark Pharmaceuticals with a target of Rs 960: UBS

UBS has a neutral call on Glenmark Pharmaceuticals Ltd. with a target price of Rs 960 . The current market price of Glenmark Pharmaceuticals Ltd. is Rs 942.65 . Time period given by the analyst is a year when Glenmark Pharmaceuticals Ltd. price can reach defined target. Glenmark's focus on specialty and innovation consistent with earlier strategy With recent launch of gZetia, cash generation over coming 2-3 quarters should remain strong. Expect base US biz to improve as a result of recent launches in dermatology. UBS has forecast a 33% EPS CAGR over FY16-18E.