Buy Cipla: target of Rs 1100: Sharekhan

Sharekhan is bullish on Cipla has recommended buy rating on the stock with a target price of Rs 1100 in its research report dated April 16, 2021.

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// else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; 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Sharekhan’s research report on Cipla

Promising growth outlook for Indian pharmaceutical markets (IPM), which is expected to grow in high single digit to low double digit for FY2022 coupled with Covid led opportunities (albeit in the near term) could benefit Cipla’s India business. Ramp up in gAlbuterol in US followed by a strong product pipeline of respiratory assets as well as complex generics would fuel the growth in US sales. Healthy topline growth, strong earnings visibility, and a healthy balance sheet augur well and would be key positives going ahead.

Outlook

We maintain Buy recommendation on Cipla Limited (Cipla) with a revised PT of Rs 1,100.

For all recommendations report, click here

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