Underperform Lupin Ltd., target Rs 1500.0 : CLSA

CLSA has Underperform call on Lupin Ltd. with a target price of Rs 1500.0. The current market price of Lupin Ltd. is 1561.0. Time period given by analyst is year, when Lupin Ltd. price can reach defined target. The competition in the top US products segment is likely to weigh on Lupin's FY18 EPS growth, said the CLSA note. The global investment bank slashed Lupin's FY17 and FY18 earnings per share (EPS) by 3 per cent and 14 per cent respectively, implying a modest EPS growth of 5 per cent for FY18. Only a single-digit EPS growth is likely in FY18 as best quarters are behind.