BSE Code: | NSE Code: | ISIN: | Sector:

NSE
540.40
Change Change %
4.65 0.87%

Updated:23 Oct, 2017, 15:59 PM IST

BSE
538.05
Change Change %
2.45 0.46%

Updated:23 Oct, 2017, 15:54 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Nomura
N/A
30-08-2017 Hold 481.15 479.00
N/A
Target Hit Long (1Y)
30-08-2018

Nomura maintains neutral on Sun Pharmaceutical

The correction in the US generics business has been much stronger than our expectations. Taro revenues declined 18% q-q in 1QFY18F and sales from the Halol site declined 50% over the past 12 months as per IMS data. We expect revival in Halol revenues in the near term and expect approval momentum to pick up post resolution of the Halol warning letter by end FY18F. However, there is limited visibility on potential "high value" generic launches. The stock is trading at 20-30% premium on FY19F estimates. We think revival in earnings is in the price.

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