Buy Lupin; target of Rs 1400: Sharekhan

Sharekhan is bullish on Lupin has recommended buy rating on the stock with a target price of Rs 1400 in its research report dated August 11, 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 Lupin

Lupin’s Q1FY22 performance marginally missed estimates on the operating front and also reflected a NCE licensing milestone income of $ 50 million. Going ahead, Lupin sees strong traction for its India business and expects growth to be in the high-teens in FY2022, which would be driven by strong growth in the base business, especially chronic therapies. The US business is expected to be impacted by the price erosion in the near term while 2HFy2022 is expected to see a marked improvement driven by ramp up in Albuterol and Brovana. High potential / limited competition launches in FY23 provide further visibility for growth.

Outlook

Given the robust growth outlook, and improving return ratios, we retain Buy on Lupin with an unchanged PT of Rs. 1,400.

For all recommendations report, click here

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