UBS maintains 'buy’ on Cipla with target price of Rs 390
"Cipla is one of our preferred stocks in the pharma sector, given its strong exposure to India and emerging markets," UBS said in a report.
Updated:
UBS maintains a 'buy’ on Cipla with a target price of Rs 390.
"Cipla is one of our preferred stocks in the pharma sector, given its strong exposure to India and emerging markets," it said in a report.
“We believe products like Dymista and approvals for inhalers could help Cipla maintain revenue growth. Also, management raised FY13 revenue growth guidance to 12-15 per cent from 10 per cent, and also expects margins to improve in FY13,” the report added.
Cipla surged over 6 per cent to hit its 52-week high of Rs 363.60 in opening trade on Wednesday after the drugmaker reported a 52 per cent increase in net profit to Rs 401 crore from Rs 253 crore in the same quarter of last financial year.
"Cipla is one of our preferred stocks in the pharma sector, given its strong exposure to India and emerging markets," it said in a report.
“We believe products like Dymista and approvals for inhalers could help Cipla maintain revenue growth. Also, management raised FY13 revenue growth guidance to 12-15 per cent from 10 per cent, and also expects margins to improve in FY13,” the report added.
Cipla surged over 6 per cent to hit its 52-week high of Rs 363.60 in opening trade on Wednesday after the drugmaker reported a 52 per cent increase in net profit to Rs 401 crore from Rs 253 crore in the same quarter of last financial year.
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