Citi maintains buy on Aurobindo Pharma, target price Rs 860
Buy Aurobindo Pharma Ltd. at a price target of Rs 860.0 .
For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 5518.27 crore, up 3.01% from last quarter sales of Rs 5356.84 crore and up 18.24% from last year same quarter sales of Rs 4667.12 crore. The company has reported net profit after tax of Rs 639.46 crore in the latest quarter.
Aurobindo continues to outperform peers on growth and margins, courtesy its well diversified pipeline and superior execution in the US, said Citi.The brokerage expects this to continue and should drive outperformance over the longer term. Near term, the Street would remain focused on compliance outcomes (Unit IV inspection; corrective action at Units VII, I, IX and XI) and closure of the Sandoz deal.