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APLLTD Consensus Forecast

No. of reports in last year
8
No. of analysts
4
Average Consensus Forecast
734.5
Consensus Potential
-37.86%

APLLTD Price Target Potential

BrokerageTargetPotential
Motilal Oswal975-1.03%
Karvy Stock Broking806-22.21%
ICICIdirect.com875-12.58%
YES Securities600-64.17%

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APLLTD Ratings

Long term APLLTD rating by FrontPage users
4.3/5 (3 Ratings)

8 APLLTD share price target reports by brokerages below. See what is analyst's view on APLLTD share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
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APLLTD Share Price Target

APLLTD Share Price Target - Broker Reports - 2020

5-Jul-20
Price @ Call: 898.84
Target: 975
NEUTRAL
Momentum of filings to improve over medium term Alembic Pharma (ALPM) is building a robust foundation for the next phase of growth in the US through huge capex (INR15b spent over FY16–20). This would be used to enhance its manufacturing strength in dosages other than oral solids (largely Injectables, Ophthalmic, and Derma); the company would be in the late stage of the capex cycle with INR7b in FY21. This move is supported by an industry-leading R&D spend (at 13–14% of sales) of INR22.9b over FY16–20. It has helped the company develop a strong product pipeline (200+ under development) for different dosages, which is expected to drive growth over the next three to four years. In fact, ALPM has already started filing ophthalmic and derma products from its new facilities. We raise our EPS estimates by 8%/7% over FY21/FY22 and the PE multiple to 20x (from 17x earlier) to factor better prospects from the ANDA pipeline, minimal regulatory risk, and a changed strategy in the Domestic Formulations (DF) market. We ascribe a 15% premium to its 10-year average to factor potential growth from new investments. Accordingly, we revise our price target to INR975 (from INR705 earlier). Earnings may appear stable over FY20–22, considering the COVID-19-led slowdown expected in DF for FY21. Moreover, meaningful contribution from the new capex program would reflect from 2HFY22. However, considering stock appreciation of ~60% over the past six months, we await a better entry point on the stock. Maintain Neutral.
... Read more
24-Apr-20
Price @ Call: 760.91
Target: 806
HOLD
We upgrade our revenues by 4.1% for FY21E at by to Rs. 50 bn and introduce FY22E revenues at Rs. 54.6 bn due to upgrade in Domestic, US business and API business. We upgrade our EBDITAM by 56 bps for FY21E to 22.4% due to savings in staff and overheads. We introduce FY22E EBDITAM at 23%. We upgrade our EPS estimates by 7.3%to Rs. 39 for FY21E and introduce FY22E EPS estimates at Rs. 40.3. We roll over our price target to FY22E with a price target of Rs. 806 based on 20x FY22E and rate the stock as a HOLD.
... Read more
23-Apr-20
Price @ Call: 684.06
Target: 705
NEUTRAL
Given the high base of the US business in FY20, we expect compounded earnings to decline 5% over FY20–22. Moreover, we are yet to see consistency in the DF business’ performance following the implementation of this renewed strategy. Accordingly, we continue to value ALPM at 17x 12M forward earnings to arrive at a price target of INR705 (prior: INR642). Maintain Neutral on limited upside from current levels.
... Read more
24-Apr-20
Price @ Call: 698.55
Target: 875
BUY
With 53% YoY growth in the US, the substance for FY20 clearly has been the stiff growth trajectory on the back of significant market share gains in Sartans where most other players continue to struggle with impurity and compliance issues. The optimism has prompted the management to adjust the US base business run rate upward to ~US$70 million. Besides this, with the aggressive R&D and capex, the management has signalled its long term strategy that includes a foray into niche areas like oncology, injectables, derma, etc. Although this is fraught with a new set of challenges (the US is still a sticky ground), the company now looks in much better shape to withstand those challenges. On the domestic front, on which we used to be apprehensive, the management expects much more stability (reflected in Q4 numbers). We upgrade Alembic from HOLD to BUY as we expect FY21E, FY22E performances to outweigh legacy concerns. We arrive at a target price of Rs 875 based on FY22E EPS of Rs 39.8.
... Read more
27-Jan-20
Price @ Call: 588.2
Target: 655
HOLD
We upgrade our revenues by 3.9%/10.3% for FY20E/FY21E due to upgrade in US business. We upgrade our EBITDAM by 184 bps for FY20E to 26.1% due to better gross margins while we downgrade by 62 bps to 21.9 % due to higher overheads. We upgrade our EPS estimates by 12.4 % /12 % to Rs 42.1 for FY20E and Rs. 36.4 for FY21E. We revise our price target to Rs. 655 based on 18x FY21E and maintain our “HOLD” rating on the stock.
... Read more
23-Jan-20
Price @ Call: 592
Target: 620
HOLD
The company continues to send mixed signals with high performing US engine (albeit on Sartan success) at one end and a somewhat laggard domestic portfolio at the other end. The management expects 10-12% domestic annual growth from FY21 on the back of ongoing restructuring of distribution patterns. For the US, with the aggressive R&D and capex, the management has signalled its long term strategy for the next five to six years. This includes a foray into niche areas like oncology, injectables, derma, etc. We believe this is fraught with a new set of challenges. The benefits are most likely to be back-loaded. We arrive at our target price of Rs 620 based on 22x FY22E EPS of Rs 31.0.
... Read more
23-Jan-20
Price @ Call: 592
Target: 640
NEUTRAL
We expect moderate earnings CAGR of 8% over FY19-22, given the high base of the US business and as the course-correction strategy in the domestic formulation business is yet to yield results. We value ALPM at 17x 12 forward basis to arrive at a price target of INR640 (prior: INR600). We remain positive on ALPM given its efforts toward building a strong ANDA pipeline and enhancing dosage offerings. However, we maintain Neutral given the limited upside from current levels.
... Read more

APLLTD Share Price Target - Broker Reports - 2019

24-Oct-19
Price @ Call: 545.77
Target: 600
BUY
Alembic would start expensing derma facility from Q3 even as another Rs5bn capex is still to be incurred in current fiscal. Cumulative capex including pre-operative expenditure is Rs15bn till date and we reckon company can achieve stated goal of US$450-500mn US sales over next few years. In domestic business, encouragingly, prescriptions and number of prescribers have expanded which rules out any structural concern behind no growth yoy in H1. While we remain convinced earnings growth would accelerate beyond FY21, even so H1 US performance has held the fort in the interim. Our ADD rating stays with unchanged 1-year TP of Rs600, as growth will follow a huge investment phase that should end in the current fiscal.
... Read more
1-Aug-19
Price @ Call: 520.28
Target: 540
HOLD
Q1 revenues were mainly driven by strong growth in the US. The company also reported one of the strongest gross margin performances although as the management asserted, these are unsustainable. Overall, US growth remains strong but opportunistic whereas India growth remains slightly insipid. With the aggressive R&D and capex, the management has signalled its long term strategy for the next five to six years, especially on the US front. This includes a foray into niche areas like oncology, injectables, derma, etc. We believe this is fraught with a new set of challenges. The benefits are most likely to be back-loaded. Immediate cash burn is likely to weigh on sentiments in the near term. Our target price arrives at Rs540 based on 22x FY21E EPS of Rs 25.4.
... Read more
12-Jul-19
Price @ Call: 541.12
Target: 675
BUY
20-Mar-19
Price @ Call: 541.18
Target: 615
NEUTRAL
We expect 9% earnings CAGR over FY19-21, which appears moderate, partly due to the high base of FY19. We further expect earnings momentum to improve greatly, FY21 onwards, as ALPM starts reaping benefits from its new investments. We value ALPM at 18x 12M forward earnings and arrive at a PT of INR615. We remain positive on ALPM, on the back of its strong product pipeline in onco injectables/ derma/ oral solids dosages, creation of capacity/capability to support manufacturing and for its sound compliance record in the US market. Even the domestic branded formulation business is in good stead to outperform the industry. However, we maintain Neutral on limited upside from current levels.
... Read more
23-Jan-19
Price @ Call: 587.8
Target: 620
HOLD
23-Jan-19
Price @ Call: 587.8
Target: 653
HOLD
23-Jan-19
Price @ Call: 587.8
Target: 615
ACCUMULATE

APLLTD Share Price Target - Broker Reports - 2018

23-Oct-18
Price @ Call: 580.05
Target: 610
BUY
30-Jul-18
Price @ Call: 556.65
Target: 570
ACCUMULATE
17-May-18
Price @ Call: 478.67
Target: 570
BUY
17-May-18
Price @ Call: 479.25
Target: 500
NEUTRAL
10-Jan-18
Price @ Call: 556.95
Target: 785
BUY

APLLTD Share Price Target - Broker Reports - 2017

9-Nov-17
Price @ Call: 513.37
Target: 530
HOLD
21-Jul-17
Price @ Call: 540
Target: 580
HOLD
21-Jul-17
Price @ Call: 541
Target: 570
HOLD
20-Jul-17
Price @ Call: 552
Target: 635
BUY
9-May-17
Price @ Call: 590
Target: 610
HOLD
5-May-17
Price @ Call: 600
Target: 632
HOLD
9-May-17
Price @ Call: 593
Target: 648
ACCUMULATE
3-May-17
Price @ Call: 605
Target: 675
BUY
4-May-17
Price @ Call: 597
Target: 605
HOLD
27-Jan-17
Price @ Call: 578
Target: 667
ACCUMULATE

APLLTD Share Price Target - Broker Reports - 2016

28-Apr-16
Price @ Call: 619
Target: 560
SELL
2-Nov-16
Price @ Call: 665
Target: 732
HOLD
26-Oct-16
Price @ Call: 673
Target: 700
HOLD
26-Oct-16
Price @ Call: 678
Target: 700
HOLD
26-Oct-16
Price @ Call: 678
Target: 690
HOLD
4-Oct-16
Price @ Call: 657.2
Target: 728
BUY
18-Jul-16
Price @ Call: 574
Target: 654
BUY
5-Jul-16
Price @ Call: 584.09
Target: 600
HOLD
30-Jun-16
Price @ Call: 547
Target: 576
HOLD
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  • APLLTD Share Price Target Today- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,096.05
    Upside Target 21,066.1
    Upside Target 11,042
    Pivot1,012.05
    Downside Target 1987.95
    Downside Target 2958
    Downside Target 3933.9
  • APLLTD Share Price Target weekly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,071.7
    Upside Target 21,042.35
    Upside Target 11,013.7
    Pivot984.35
    Downside Target 1955.7
    Downside Target 2926.35
    Downside Target 3897.7
  • APLLTD Share Price Target monthly- Technical Pivot Points (Classic)

    keyboard_arrow_down
    Upside Target 31,225.03
    Upside Target 21,135.02
    Upside Target 11,060.03
    Pivot970.02
    Downside Target 1895.03
    Downside Target 2805.02
    Downside Target 3730.03
  • APLLTD Share Price Target today- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,066.1
    Upside Target 21,045.45
    Upside Target 11,032.7
    Pivot1,012.05
    Downside Target 1991.4
    Downside Target 2978.65
    Downside Target 3958
  • APLLTD Share Price Target weekly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,042.35
    Upside Target 21,020.19
    Upside Target 11,006.51
    Pivot984.35
    Downside Target 1962.19
    Downside Target 2948.51
    Downside Target 3926.35
  • APLLTD Share Price Target monthly- Technical Pivot Points (Fibonacci)

    keyboard_arrow_down
    Upside Target 31,135.02
    Upside Target 21,071.99
    Upside Target 11,033.05
    Pivot970.02
    Downside Target 1906.99
    Downside Target 2868.05
    Downside Target 3805.02
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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