Sharekhan puts buy on Lupin
Sharekhan has come out with a ‘buy’ on Lupin on account of its differentiated business model with global dominance in certain products, focus on niche, less-commoditised products and geographically diversified presence in newer markets such as Jap...
By ET Bureau |
Lupin
cmp: Rs 598
target price: Rs 840
Sharekhan has come out with a ���buy��� on Lupin on account of its differentiated business model with global dominance in certain products, focus on niche, less-commoditised products and geographically diversified presence in newer markets such as Japan and the US branded segment.
���These factors will drive sustained growth and call for premium valuations,��� says the report. It adds that USFDA concerns are overdone as Lupin has already addressed USFDA���s queries on these inspectional observations and is hopeful of receiving a clearance soon. ���Lupin���s issues with USFDA are not as serious as those of Caraco Pharmaceuticals/Sun Pharmaceuticals and Ranbaxy Laboratories, as Lupin continues to sell all its products in the US as well as receive product approvals from all its USFDA-approved facilities.
Hence, we reiterate our buy recommendation on the stock with a price target of Rs 840,��� the report said. The broking house believes that concerns on the USFDA front are more than priced into the current stock price.
cmp: Rs 598
target price: Rs 840
Sharekhan has come out with a ���buy��� on Lupin on account of its differentiated business model with global dominance in certain products, focus on niche, less-commoditised products and geographically diversified presence in newer markets such as Japan and the US branded segment.
���These factors will drive sustained growth and call for premium valuations,��� says the report. It adds that USFDA concerns are overdone as Lupin has already addressed USFDA���s queries on these inspectional observations and is hopeful of receiving a clearance soon. ���Lupin���s issues with USFDA are not as serious as those of Caraco Pharmaceuticals/Sun Pharmaceuticals and Ranbaxy Laboratories, as Lupin continues to sell all its products in the US as well as receive product approvals from all its USFDA-approved facilities.
Hence, we reiterate our buy recommendation on the stock with a price target of Rs 840,��� the report said. The broking house believes that concerns on the USFDA front are more than priced into the current stock price.
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