Buy Sun Pharmaceutical Industries: target of Rs 700: Sharekhan

Sharekhan is bullish on Sun Pharmaceutical Industries has recommended buy rating on the stock with a target price of Rs 700 in its research report dated April 01, 2021.

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Sharekhan’s research report on Sun Pharmaceutical Industries

Sun Pharma’s specialty business is on a strong footing and traction is expected to improve further backed by rising prescriptions and geographical expansion. Sun Pharma has a strong new product pipeline in the US with 90 ANDAs and 8 NDAs awaiting USFDA approval and growth in the base business would result in healthy growth of the US business. Strong position in the chronic as well as acute therapies, double digit growth expected for IPM and increasing field force productivity and geographic penetration would be the key drivers for the India business.

Outlook

We retain a Buy recommendation on Sun Pharmaceutical Industries (Sun Pharma) with an unchanged PT of Rs. 700.

For all recommendations report, click here

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