Sell Lupin Ltd. with a target of Rs 1500 – CLSA

CLSA has a sell call on Lupin Ltd. with a target price of Rs 1500 . The current market price of Lupin Ltd. is R 1397 . Time period given by analyst is a year when Lupin Ltd. price can reach defined target. The global investment bank sees muted EPS growth in FY18 as top products get competitive and is expected to further pick-up over the next few quarters. The USFDA clearance of Goa plant could drive a faster approval cycle. USFDA clearance unlikely to offset the decline in sales from top products, said the CLSA note. FY18 sales guidance for Gavis reduced to $250m from $300m due to slower ramp-up.