Motilal Oswal Retains Neutral Rating To Large Cap Pharma Stock, TP Rs 990
Motilal Oswal has assigned neutral call to large cap pharmaceuticals sector stock, Cipla Ltd with a target price of Rs 990 apiece, implying an upside of 10%.
Last trading price of Cipla is Rs 899.85 apiece.
According to the analyst, " We cut our earnings estimate by 3% for FY 24 to factor in the delay in g- Advair approval, due to observations in form 483.
The last trading price of the stock is Rs 899.85 apiece. The company has a market capitalisation of Rs 72,630.85 crore.
The stock's 52- week high is Rs 1185.20 apiece and 52- week low is Rs 890.00 apiece, respectively.
The stock fell 20% in last 3- months and 2% in last 1- year. It gave 123% return in last 3- years.
2. Valuation
We value Cipla at a price target of INR 990.
Considering a) moderate earnings growth and b) valuation providing limited upside potential, we reiterate our Neutral rating on the stock
3. About Cipla Ltd
Cipla is affordable globally, it deepening its presence in the key markets of India, South Africa, the U.S. among other economies of the emerging world.
The stock has been picked from the brokerage report of Motilal Oswal.
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By Renu Baliyan Goodreturns source: Dailyhunt