Cipla share price: After the company reported healthy numbers for the March quarter,

Cipla Share Price: Brokerage is bullish on Cipla shares and expects a 28% rise in this stock. The results of a healthy March quarter will probably act as a trigger for the reverse, they opined. Shares of Cipla closed at Rs 937.5 per share on the BSE today, up 1 per cent from Tuesday’s closing price.

Philip Capital said in its report that Cipla’s core earnings in Q4 were reported to be almost in line with industry estimates, although higher spending reduced margins. The brokerage firm expects a qualitative growth in the company’s profits, driven by strong US growth, strong domestic trade and steady exports.

Philip Capital cut its FY23 / FY24 earnings by 7% / 4% and CAGR estimates 27% earnings from FY22-24 in the high cost guidance.

It holds a ‘buy’ rating on the stock with a target price of Rs 1,200 per share, indicating a 28 per cent rise over the counter.

Meanwhile, CITI has maintained a ‘buy’ position and expects the Sippler stock price to rise to Rs 1,170 per share, indicating a rise of more than 24 per cent in the stock. In its estimates, CITI Cipla expects a healthy Q4 earnings because margin guidance looks soft, although it may be revised in the future.

India and US launch pricing (gLanreotide + gRevlimid + gadvair) could help boost Cipla numbers in the next quarter, it added.

Cipla’s earnings were higher than expected, although post-tax profit (PAT) margins did not meet expectations due to pressure, Nirmal Bank said in a note to Cipla’s Q4 results review.

On the basis of 21x P / E Multiple in FY24E EPS, Nirmal Bank maintains a buy rating on Cipla with a target price of Rs 1,138 per share (up 21 per cent) and believes that the risk-reward will be favorable at the current market price.

Meanwhile, Morgan Stanley expects steady growth in middle-aged for the branded generic business and high-priced complex launches in the United States. It maintains an overweight position with a target price of Rs 1,122 per share, which translates into a potential increase of about 20 per cent.

The pharma company has been building a strong pipeline of inhalers, complex injectables and peptides in the long run, the global brokerage firm said in its earnings review.

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