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CADILAHC Share Price Target
Cadila Healthcare Ltd.
Sector: Pharmaceuticals and health care
Sector: Pharmaceuticals and health care
CADILAHC Long Term Analysts Rating
- ★★
- ★★
- ★★
- ★★
- ★★
4.2/5 (19 Ratings)
CADILAHC Share Price *
270.1 +1.75 (0.65%)
* (quote may be delayed)
19 CADILAHC share price target reports by brokerages below. See what is analyst's view on CADILAHC 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.
You can also find CADILAHC share price target tomorrow or next week from CADILAHC discussion forum.
CADILAHC Share Price Forecast - Consensus
| No. of reports in last year | 19 |
| No. of analysts | 10 |
| Average Consensus Forecast | 329.84 |
| Consensus Potential | 16.14% |
CADILAHC Share Price Target - Broker Reports - 2019
Karvy Stock Broking
15-Nov-19
Price @ Call: 234.2
Target: 274
BUY
Outlook & Valuation: We downgrade our Revenues by 0.8%/0.8% in FY20E/FY21E due to downgrade in EM business. We downgrade our EBDITAM by 140bps/120 bps to 19.3%/19.3% for FY20E /FY21E due to higher staff, overheads and R & D cost. We downgrade our EPS by 4.9%/4.1% to Rs 14.3/Rs 16.1 for FY 20E/FY21E. We downgrade our price target to Rs 274 based on 17x FY 21E, but maintain ourBUY rating on the stock.
Motilal Oswal
13-Nov-19
Price @ Call: 227.11
Target: 265
BUY
We cut our EPS estimate by 12%/6% for FY20/FY21 to INR14.7/INR17 to factor in lower margins led by (a) increased competition in select products in the US market, and (b) delay in product approvals due to site transfers. We continue to value CDH at 15x 12M forward earnings to arrive at TP of INR265. We remain positive on CDH on the back of (a) robust ANDA pipeline including complex products like transdermals, and (b) the changed strategy, which is delivering steady pick-up in domestic formulation growth. Further, valuations remain attractive at 15x FY20/13x FY21. Maintain Buy.
Nirmal Bang
13-Aug-19
Price @ Call: 223.37
Target: 315
BUY
EBITDA stood at Rs6,320mn, which is 19.1%/18.9% below our/consensus estimates and adjusted for one – off it is lower than estimates by 10%. We have retained Buy rating on Cadila with a target price (TP) of Rs315, valued at PE multiple of 20x.
Karvy Stock Broking
13-Aug-19
Price @ Call: 234
Target: 261
HOLD
We downgrade our Revenues by 0.7%/0.5% in FY20E/FY21E due to downgrade in US and EU business. We broadly maintain our EBDITAM at 20.7% for FY20E while we downgrade by 50 bps to 20.5 % for FY21E. We downgrade our EPS for FY20E/ FY21E by 1%/8.5 % to Rs 14.6/ Rs 16.3 for FY20E/FY21E. We downgrade our rating to HOLD with a revised price target of Rs 261 based on 16x FY21E.
HDFC Securities
10-Aug-19
Price @ Call: 231.29
Target: 265
BUY
We maintain BUY on CDH despite a miss on our estimates due to certain one-time costs. We have cut our FY21 EPS by 6% to accommodate higher interest cost. Our TP is revised to Rs 265 (18x FY21E EPS).We upgraded CDH recently as we believe that the impact of OAI on its key formulations facility at Moraiya, Gujrat is already priced-in. The sharp ~30% FYTD fall in the price makes it one of the cheapest among the large-cap pharma stocks at 15.7x onFY21E EPS. With ~100 pending approvals and 2/3rd of them being filed from Ex-Moraiya units, we believe US$ 800mn US revenues and Rs 14.6 EPS (ex-Asacol HD) are achievable. With the ability to generate Rs 8-10bn FCFs annually, net debt position remains comfortable at ~Rs 70bn (0.7x FY19).
Sharekhan
9-Aug-19
Price @ Call: 231.29
Target: 275
HOLD
Valuation - Maintain Hold with marginally downward revised PT of Rs.275: The stock has corrected by ~45% from its high and is currently trading at 11.4x its FY2021E earnings. We expect the company to report salesand profit CAGR of 11% and 8%, respectively, over the next two years.Although the quarter’s performance was better than expectation, recent classification of Moraiya facility to OAI by the USFDA has dampened sentiments. This development does not impact ongoing operations but could delay new product approvals and remediation and re-inspection of the facility could take 6-9 months. Thus, we feel although the valuation is reasonable, if Moraiya issues get escalated to an import alert, earnings can be downgraded. We would like to wait until further clarity emerges. Hence, we maintain our Hold rating on the stock with marginally downward revised PT of Rs. 275.
Prabhudas Lilladher
9-Aug-19
Price @ Call: 231.29
Target: 266
ACCUMULATE
Q1 in line: US, India to continue steady growth
There could be possibility of higher charge backs that could lead to reduce net realisation of core US sales in Q2FY19E mainly from competitive products such as Levorphanol and gLialda. There are however a potent pipeline of generics in FY20E and FY21E such as gExelon transdermal patch and guidance of 25 ANDA launches in nine months. CDH trades at PER of 12x (FY20E) and 11.2x (FY21E). While there remain to have hangover in valuation due to large debt obligations (net debt Rs63bn) post Heinz acquisition, we maintain ‘Accumulate’ due to valuable product pipeline in US and lower base benefits in India formulations. We decrease our valuation multiples to PE 13x of FY21E earnigns due to higher contribution from US generics to continue in FY20E-21E and decreased TP to Rs266 from Rs371.
There could be possibility of higher charge backs that could lead to reduce net realisation of core US sales in Q2FY19E mainly from competitive products such as Levorphanol and gLialda. There are however a potent pipeline of generics in FY20E and FY21E such as gExelon transdermal patch and guidance of 25 ANDA launches in nine months. CDH trades at PER of 12x (FY20E) and 11.2x (FY21E). While there remain to have hangover in valuation due to large debt obligations (net debt Rs63bn) post Heinz acquisition, we maintain ‘Accumulate’ due to valuable product pipeline in US and lower base benefits in India formulations. We decrease our valuation multiples to PE 13x of FY21E earnigns due to higher contribution from US generics to continue in FY20E-21E and decreased TP to Rs266 from Rs371.
Nirmal Bang
10-Jun-19
Price @ Call: 242.7
Target: 315
BUY
Based on three possible regulatory outcomes of the compliance observations given by the USFDA at Moraiya manufacturing unit, we see the stock price discounting the worst case. In the best case, if Moraiya gets a voluntary action indicated (VAI) status (new approvals keep coming in), we expect FY21E EPS to be Rs18 per share, while in the base case we assume an official action indicated (OAI) status (new approvals halted) and our EPS expectation is Rs16 per share. In the worst case, if Moraiya issues get escalated to an import alert, the earnings can correct about 40% to Rs11 per share. At CMP stock trades at 22x FY21E worst case EPS, while at 13.2x best case scenario.
Sharekhan
3-Jun-19
Price @ Call: 252.33
Target: 290
HOLD
Maintain Hold with a downward revised PT of Rs. 290:
We feel that although Cadila has a big ANDA pipeline and strong control on expenses, its domestic business lacks its peers in terms of growth. Further, concentration on key markets such as U.S. and India is a risk. In addition, regulatory hurdles at Moraiya facility continue to remain an overhang for the near term. We have revised downwards our earnings estimates by 15% each for FY2020E and FY2021E on account of lowered margin guidance and increased interest cost. We maintain our Hold recommendation on the stock with lowered price target (PT) of Rs. 290.
We feel that although Cadila has a big ANDA pipeline and strong control on expenses, its domestic business lacks its peers in terms of growth. Further, concentration on key markets such as U.S. and India is a risk. In addition, regulatory hurdles at Moraiya facility continue to remain an overhang for the near term. We have revised downwards our earnings estimates by 15% each for FY2020E and FY2021E on account of lowered margin guidance and increased interest cost. We maintain our Hold recommendation on the stock with lowered price target (PT) of Rs. 290.
Reliance Securities
30-May-19
Price @ Call: 258.11
Target: 350
BUY
CDH has rich ANDA pipeline for the US market. We expect strong improvement in domestic business going ahead. Form 483 (14 observations, out of which few are of serious nature, which may lead to issue of WL) on Moraiya plant is a key near-term overhang for the stock. We reduced our target multiple to 16x (from 20x earlier) owing to pending US FDA issue and rolling over our earnings estimate to FY21E. We believe risk-reward is attractive at 14.4x/12.0x FY20E/FY21E earnings, despite the near-term earnings pressures. Hence, we maintain our BUY recommendation on the stock with a revised Target Price of Rs350 (from Rs400 earlier).
ICICIdirect.com
30-May-19
Price @ Call: 258.11
Target: 280
HOLD
Although it is early days to gauge the success, prima facie it looks beneficial from an overall revenue point of view with an India focused FMCG addition in the overall portfolio mix. Overall, the balance sheet expansion and muted growth guidance for the US may weigh on sentiments in the near term. Our new target price is Rs 280 based on 15x FY21E EPS of Rs 18.7.
Angel Broking
27-Mar-19
Price @ Call: 335.45
Target: 370
HOLD
Over FY2018-21E, the company expects to post a sales and net profit CAGR of 9.1% and a flat growth during FY2018-21E respectively. Company’s stock has witnessed a correction & however given the challenges, at current valuations the stock provides very little upside. Hence, we have factored in the same to recommend a Hold.
Geojit Financial Services
15-Mar-19
Price @ Call: 330.35
Target: 358
HOLD
Although strong ANDA pipeline with focus on niche generics & speciality products and increased product launch momentum are key positives, highly leveraged balance sheet post Heinz India acquisition, which was funded largely through debt, remain a near term concern. We lower EBITDA margin estimates by 42bps/112bps for FY19E/20E mainly due to lower domestic sales and gross margins. Further, we lower adj.PAT estimates by 7%/19% for FY19E/20E in line with margin adjustments and to factor in higher interest cost & depreciation charges and tax rate. Hence, we downgrade our rating to ‘HOLD’ on the stock. Rolling over estimates to FY21E, our revised target price stands at Rs358 based on 18x FY21E EPS.
HDFC Securities
11-Feb-19
Price @ Call: 321.9
Target: 465
BUY
Karvy Stock Broking
11-Feb-19
Price @ Call: 321.9
Target: 366
HOLD
Prabhudas Lilladher
8-Feb-19
Price @ Call: 323
Target: 362
ACCUMULATE
Reliance Securities
8-Feb-19
Price @ Call: 323
Target: 400
BUY
Motilal Oswal
8-Feb-19
Price @ Call: 323
Target: 420
BUY
ICICIdirect.com
8-Feb-19
Price @ Call: 323
Target: 370
BUY
CADILAHC Share Price Target - Broker Reports - 2018
AnandRathi
31-Dec-18
Price @ Call: 344.65
Target: 435
BUY
ICICIdirect.com
13-Nov-18
Price @ Call: 353.61
Target: 415
BUY
Motilal Oswal
5-Nov-18
Price @ Call: 358.14
Target: 430
BUY
HDFC Securities
5-Nov-18
Price @ Call: 358.14
Target: 475
BUY
Geojit Financial Services
30-Oct-18
Price @ Call: 352.12
Target: 405
BUY
AnandRathi
17-Aug-18
Price @ Call: 354.24
Target: 444
BUY
HDFC Securities
16-Aug-18
Price @ Call: 340.05
Target: 495
BUY
Prabhudas Lilladher
14-Aug-18
Price @ Call: 354.55
Target: 437
ACCUMULATE
Motilal Oswal
14-Aug-18
Price @ Call: 342.28
Target: 440
BUY
Sharekhan
14-Aug-18
Price @ Call: 342.28
Target: 450
BUY
ICICIdirect.com
14-Aug-18
Price @ Call: 342.28
Target: 365
HOLD
Edelweiss
25-Jun-18
Price @ Call: 410.81
Target: 510
BUY
AnandRathi
21-Jun-18
Price @ Call: 410
Target: 489
BUY
Motilal Oswal
28-May-18
Price @ Call: 369.61
Target: 460
BUY
Prabhudas Lilladher
26-May-18
Price @ Call: 379.88
Target: 438
ACCUMULATE
Edelweiss
9-Feb-18
Price @ Call: 404.75
Target: 510
BUY
Motilal Oswal
9-Feb-18
Price @ Call: 404.75
Target: 500
BUY
KRChoksey
9-Feb-18
Price @ Call: 400.63
Target: 436
ACCUMULATE
Edelweiss
19-Jan-18
Price @ Call: 435
Target: 510
BUY
CADILAHC Share Price Target - Broker Reports - 2017
Axis Direct
27-Nov-17
Price @ Call: 443.72
Target: 500
BUY
Angel Broking
24-Nov-17
Price @ Call: 446.99
Target: 411
REDUCE
Reliance Securities
16-Nov-17
Price @ Call: 442.26
Target: 554
BUY
ICICIdirect.com
16-Nov-17
Price @ Call: 442.26
Target: 470
HOLD
Motilal Oswal
15-Nov-17
Price @ Call: 448.5
Target: 555
BUY
Prabhudas Lilladher
14-Nov-17
Price @ Call: 450.75
Target: 519
ACCUMULATE
Geojit Financial Services
28-Sep-17
Price @ Call: 453.95
Target: 506
BUY
IIFL
25-Sep-17
Price @ Call: 489.15
Target: 400
REDUCE
Edelweiss
7-Sep-17
Price @ Call: 495.7
Target: 580
BUY
Axis Direct
21-Aug-17
Price @ Call: 473.3
Target: 540
BUY
KRChoksey
14-Aug-17
Price @ Call: 482.95
Target: 550
ACCUMULATE
Edelweiss
14-Aug-17
Price @ Call: 482.95
Target: 580
BUY
HDFC Securities
11-Aug-17
Price @ Call: 482.95
Target: 600
BUY
Edelweiss
8-Jun-17
Price @ Call: 531.35
Target: 600
BUY
Reliance Securities
30-May-17
Price @ Call: 451
Target: 527
BUY
Edelweiss
26-May-17
Price @ Call: 444
Target: 460
BUY
Motilal Oswal
16-Feb-17
Price @ Call: 429
Target: 510
BUY
Karvy Stock Broking
1-Feb-17
Price @ Call: 350
Target: 392
HOLD
Angel Broking
1-Feb-17
Price @ Call: 350
Target: 400
BUY
KRChoksey
1-Feb-17
Price @ Call: 349
Target: 410
BUY
Religare
31-Jan-17
Price @ Call: 350.55
Target: 395
BUY
HDFC Securities
31-Jan-17
Price @ Call: 349.98
Target: 385
BUY
Edelweiss
31-Jan-17
Price @ Call: 351
Target: 460
BUY
CADILAHC Share Price Target - Broker Reports - 2016
ICICIdirect.com
28-Oct-16
Price @ Call: 395
Target: 450
BUY
ICICIdirect.com
4-Aug-16
Price @ Call: 347
Target: 405
BUY
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CADILAHC Peer Stocks - Share Price Targets
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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