Most brokerage firms rely on Sun Pharma, the country's largest pharmaceutical company. Even after weak results in the March quarter, analysts trust the company. However, they have cut its target price.
Sun Pharma had presented its March quarter results on Tuesday. Net profit of the company declined by 52.6 per cent to Rs 635.9 crore. The company's EBITDA also dropped 39.6 per cent to Rs 1,017 crore. Brokerage firms reduced its target price by 22 percent.
Brokerage, such as CLSA, HSBC, Jefferies and Reliance Securities, advised to buy this stock. But, its target price has been reduced by 3.7 per cent to 22 per cent. ICICI CicTits cuts target target by 7.6% However, its additional shopping advice is maintained.
Jefferies has advised buying it while explaining its risk and return ratio better. Brokerage has reduced its target price from 540 to 520 rupees. Reliance Securities has also advised to buy Sun Pharma by giving the same reason.
City has not made any change in the target price of Rs 540. The brokerage believes that the comments of the company management are very encouraging over the financial year 2019-20, but other issues remain.
Brokerage said, "The company management did not say anything on the issue of corporate governance nor did we comment on the ongoing dispute over prices in the US. We believe that these issues will remain in the future. There is not much good growth. "
Morgan Stanley does not trust this stock. This global analyst said, "Sun Pharma's generic business is stabilizing, but it is taking a lot of time in the specialty business in the US. We hope that the 2019-20 year will be the name of the specialty business."
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Brokerage, such as CLSA, HSBC, Jefferies and Reliance Securities, advised to buy this stock. But, its target price has been reduced by 3.7 per cent to 22 per cent. ICICI CicTits cuts target target by 7.6% However, its additional shopping advice is maintained.
Jefferies has advised buying it while explaining its risk and return ratio better. Brokerage has reduced its target price from 540 to 520 rupees. Reliance Securities has also advised to buy Sun Pharma by giving the same reason.
City has not made any change in the target price of Rs 540. The brokerage believes that the comments of the company management are very encouraging over the financial year 2019-20, but other issues remain.
Brokerage said, "The company management did not say anything on the issue of corporate governance nor did we comment on the ongoing dispute over prices in the US. We believe that these issues will remain in the future. There is not much good growth. "
Morgan Stanley does not trust this stock. This global analyst said, "Sun Pharma's generic business is stabilizing, but it is taking a lot of time in the specialty business in the US. We hope that the 2019-20 year will be the name of the specialty business."
For more information Best stock advisory Company in Indore
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