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CLSA maintains buy rating on Cadila Healthcare, target price Rs 285

Buy Cadila Healthcare Ltd. at a price target of Rs 285.0 .

ETMarkets.com|
Last Updated: Sep 06, 2019, 08.39 AM IST
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CLSA has maintained buy rating on Cadila Healthcare in the long term with a target price of Rs 285. Shares of Cadila Healthcare ended up 2.36% at Rs 235.90 on Thursday while the BSE sensex closed 80.32 points down to 36,644.42.

Company Financials

For the quarter ended 30-06-2019, the company has reported consolidated sales of Rs 3406.20 crore, down -5.89 % from last quarter sales of Rs 3619.50 crore and up 23.03 % from last year same quarter sales of Rs 2768.70 crore. The company has reported net profit after tax of Rs 314.80 crore in latest quarter.
Investment Rationale
Over the past few years, Cadila Health has taken several initiatives to strengthen its India and EM portfolio with an aim to reduce dependence on the US, said CLSA. CLSA expects results to come from FY21 and set the long-term earnings outlook for the company.

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