Prabhudas Lilladher upgrades Lupin to hold, raises target price to Rs 760
Hold Lupin Ltd. at a price target of Rs 760.0 .
For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 4296.90 crore, down -1.35 % from last quarter sales of Rs 4355.83 crore and up 10.43 % from last year same quarter sales of Rs 3890.93 crore. The company has reported a net profit after tax of Rs -124.40 crore in the latest quarter.
The brokerage upgraded the drug maker after it sold its Japanese generic business to a private equity investor named Unison at a valuation of $526 million. With strategy of focusing in complex generics, injectable and specialty products in US and acquisition of brands in US and India, Lupin is better off with divestment of nonfocus geography, said the brokerage.