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CIPLA Share Price Target

Cipla Ltd.
Sector: Pharmaceuticals and health care
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CIPLA Share Price *
449.15 -6.3 (-1.38%)
* (quote may be delayed)
CIPLA Share Price Forecast - Consensus
No. of reports in last year
16
No. of analysts
7
Average Consensus Forecast
567.13
Consensus Potential
18.22%

CIPLA Share Price Target - Broker Reports - 2019

Sharekhan
7-Nov-19
Price @ Call: 477.16
Target: 540
BUY
Valuation - Maintain Buy with revised PT of Rs. 540: Cipla has corrected by ~20% from its highs and is currently trading at 13x its FY2022E earnings. The concerns in the domestic business in Q1FY20 due to re-alignment of distributors have been completely resolved and the business is expected to normalise in Q3FY20. In the US, a strong set of product and launches would be key growth drivers. Given better–than-estimated results in Q2FY20, we have tweaked our earnings estimates for FY20/FY21 and introduce FY2022 estimates in this note. We expect the company toreport sales and profit CAGRs of 11% and 25%, respectively, over FY2019-FY2022E. We maintain our Buy recommendation on the stock with a revised PT of Rs. 540.
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Prabhudas Lilladher
6-Nov-19
Price @ Call: 477.15
Target: 439
REDUCE
With guidance of lower US sales in H2FY20E (due to competitive intensity in gSensipar and gLyrica) and limited visibility of similar profiles of drugs, we expect erosion of value to lead a tepid growth in core US generics in FY20E- 21E. Reported sales in South Africa remain muted though local currency sales outperformed industry growth. We maintain ‘Reduce’ and retain TP at Rs439.
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Edelweiss
3-Oct-19
Price @ Call: 412.45
Target: 500
BUY

Sharekhan
13-Aug-19
Price @ Call: 485.2
Target: 650
BUY
Maintain buy with downward revised PT of Rs. 650: The stock has corrected by ~25% from its high and is currently trading at 14.4x its FY2021E earnings. We feel that the domestic business slowdown and the company’s decision to realign distributors (in domestic business) are likelyto affect overall growth of the India business in FY2020E. Hence, we have reduced our sales/profit estimates by 10%/8% and 12%/10% for FY2020E and FY2021E, respectively. However, we feel that all these factors are mostly factored in. We expect the company to report sales and profit CAGRs of 14% and 40%, respectively, over FY2019-FY2021E. Also we feelunlike its larger peers, Cipla faces minimal regulatory woes making it abetter investment option. Hence, we maintain our Buy recommendation on the stock with downwardly revised price target (PT) of Rs. 650.
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ICICIdirect.com
9-Aug-19
Price @ Call: 490.81
Target: 520
HOLD
Q1 results were largely impacted by the realignment of distributors in domestic trade generics and deferral of dispatches in branded domestic formulations. US market growth was driven by gSensipar. The management has maintained its guidance of launching one limited product every quarter in the US. On the Africa front, the company continues to rebase its business model towards private business in the backdrop shrinking tender opportunities. Despite distribution related issues, the management remains upbeat on India growth prospects mainly on the back of promotional (Rx) traction. Across the board transformation from tenderised model to private model in the exports market and from trade generics (Tx) to promotional (Rx) in India is likely to continue for some time. This may have some implications on the quarterly performance. We ascribe a target price of | 520 based on 20x FY21E EPS | 25.9.
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Prabhudas Lilladher
8-Aug-19
Price @ Call: 519
Target: 439
REDUCE
Q1: India continues to struggle, core US muted
With lower single digit growth in branded drugs of India formulations and uncertainty over the recovery of growth in India generics, we have reduced our sales and EBITDA estimates for FY20E and FY21E. Lower benefits from gSensipar (competitive intensity) and limited visibility of similar profiles of drugs, we expect 13% CAGR in US generics FY19-21E. There was strong reduction (38% fall) of global tender (ARV/malaria) business as well as 14% fall in SA tender business in Q1FY20. With challenging geo-political scenariosthose affects Cipla’s business prospects in key geographies, we maintain‘Reduce’ and decrease our TP to RsRs439 (20.5x PE of FY21E earnings) from Rs475.
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Nirmal Bang
8-Aug-19
Price @ Call: 501.26
Target: 636
BUY
Margin improves but revenue impacted by disruption in trade generics
In FY19, Cipla finally posted a turnaround in its US business and in FY20 we should witness a full-year impact of this turnaround. The headwinds that have impacted its tender business in FY19 has put this business on a low base and there should be little downward pressure from here on. Cipla’s brand business in India also continues to do well, which it continues to strengthen through in-licencing deals. The trade generic business which was impacted by a reorganization of the distribution channel should see normalcy in the next one or two quarters. The US business continues to progress favourably and the momentum should sustain as they continue to push limited competition launches (one per quarter).
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Nirmal Bang
24-May-19
Price @ Call: 568.03
Target: 653
BUY
We have retained Buy rating on the stock. In FY19, Cipla finally posted a turnaround in its US business and in FY20 we should witness a full-year impact of this turnaround. The headwinds that have impacted its tender business in FY19 has put this business on a low base and there should be little downward pressure from here on. Cipla’s brand business in India also continues to do well, which it continues to strengthen through in-licencing deals. The channel de-stocking impact knocked of a couple of basis points from Cipla’s FY19 growth, but the phenomenon is now done and the performance should fall in line. We have tweaked our financial estimates based on 4QFY19 financial results and arrived at a target price of Rs653 (from Rs695 earlier) based on 22x FY21E EPS.
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Reliance Securities
23-May-19
Price @ Call: 554.05
Target: 650
BUY
Cipla’s US business continues to remain strong driven by ramp-up of key launches with one limited competition product to be launched per quarter. Notably, its US revenue has touched US$125mn in 4QFY19 from US$105mn in 4QFY18 led by new launches. We trim down our sales/PAT estimate by 3.1%/3.5% for FY21E on account of lower India sales and higher tax rate guidance. Rolling over our earnings estimate to FY21E, we reduce our target multiple to 20x (from 22x earlier).However, in light of healthy quarterly performance and increased visibility in the US business, we upgrade our recommendation on the stock to BUY from HOLD with a revised Target Price of Rs650 (from Rs580 earlier).
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ICICIdirect.com
23-May-19
Price @ Call: 554.05
Target: 580
HOLD
Q4 was largely driven by one-off gSensipar launched at-risk. The US business has now almost got completely transformed into direct to market (DTM) thus giving the company enough flexibility to leverage on its capabilities in a tough market like US. On the Africa front, the company continues to rebase its business model towards private business in the backdrop of shrinking tender opportunities. India is on course for double digit growth in the long run. This transformation across geographies from tenderised model to public model is likely to continue for some time. This may have some implications on margins initially. We ascribe a target price of | 580 based on 20x FY21E EPS.
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HDFC Securities
11-Feb-19
Price @ Call: 542.17
Target: 605
BUY

Nirmal Bang
8-Feb-19
Price @ Call: 538.26
Target: 657
BUY

Reliance Securities
8-Feb-19
Price @ Call: 533.85
Target: 580
HOLD

ICICIdirect.com
8-Feb-19
Price @ Call: 533.85
Target: 545
HOLD

Prabhudas Lilladher
7-Feb-19
Price @ Call: 527.95
Target: 475
REDUCE

CIPLA Share Price Target - Broker Reports - 2018

HDFC Securities
26-Dec-18
Price @ Call: 511.68
Target: 605
BUY

HDFC Securities
6-Nov-18
Price @ Call: 535.96
Target: 605
NEUTRAL

Prabhudas Lilladher
6-Nov-18
Price @ Call: 581.5
Target: 417
REDUCE

Axis Direct
23-Oct-18
Price @ Call: 622.84
Target: 744
BUY

Elara Capital
27-Sep-18
Price @ Call: 666.61
Target: 680
BUY

Geojit Financial Services
28-Aug-18
Price @ Call: 665.48
Target: 665
HOLD

Centrum
10-Aug-18
Price @ Call: 622.26
Target: 750
BUY

Prabhudas Lilladher
8-Aug-18
Price @ Call: 628.55
Target: 525
REDUCE

Indiabulls Ventures
4-Jul-18
Price @ Call: 640.35
Target: 825
BUY

Sharekhan
23-May-18
Price @ Call: 520.3
Target: 665
BUY

Prabhudas Lilladher
23-May-18
Price @ Call: 544.06
Target: 525
REDUCE

Edelweiss
23-May-18
Price @ Call: 544.06
Target: 560
HOLD

Investec Securities
17-May-18
Price @ Call: 559.85
Target: 660
BUY

Kotak Securities
21-Mar-18
Price @ Call: 552.5
Target: 720
BUY

Geojit Financial Services
21-Feb-18
Price @ Call: 601.9
Target: 653
HOLD

KRChoksey
8-Feb-18
Price @ Call: 605.99
Target: 714
BUY

Prabhudas Lilladher
7-Feb-18
Price @ Call: 565.65
Target: 526
REDUCE

CIPLA Share Price Target - Broker Reports - 2017

Prabhudas Lilladher
28-Nov-17
Price @ Call: 615
Target: 485
REDUCE

Axis Direct
14-Nov-17
Price @ Call: 602.15
Target: 675
BUY

Khambatta Securities
23-Aug-17
Price @ Call: 560.57
Target: 653
BUY

Angel Broking
22-Aug-17
Price @ Call: 560.75
Target: 458
SELL

KRChoksey
14-Aug-17
Price @ Call: 542.7
Target: 627
BUY

Khambatta Securities
14-Aug-17
Price @ Call: 542.7
Target: 653
BUY

Centrum
29-May-17
Price @ Call: 489
Target: 570
BUY

Sharekhan
26-May-17
Price @ Call: 504.1
Target: 585
BUY

Edelweiss
25-May-17
Price @ Call: 504
Target: 510
HOLD

Axis Direct
14-Feb-17
Price @ Call: 579
Target: 660
BUY

Centrum
8-Feb-17
Price @ Call: 603
Target: 740
BUY

Kotak Securities
12-Jan-17
Price @ Call: 572
Target: 650
BUY

CIPLA Share Price Target - Broker Reports - 2016

Nirmal Bang
26-Dec-16
Price @ Call: 563.85
Target: 700
BUY

Ajcon Global
2-Dec-16
Price @ Call: 572
Target: 700
BUY

Khambatta Securities
10-Nov-16
Price @ Call: 525
Target: 630
BUY

Axis Direct
10-Nov-16
Price @ Call: 558.74
Target: 600
BUY

KRChoksey
16-Aug-16
Price @ Call: 528
Target: 616
BUY

Axis Direct
16-Aug-16
Price @ Call: 517
Target: 600
BUY

KRChoksey
26-May-16
Price @ Call: 468
Target: 616
BUY

Religare
25-May-16
Price @ Call: 471.05
Target: 555
HOLD

Motilal Oswal
24-May-16
Price @ Call: 495
Target: 540
NEUTRAL

  • CIPLA - Share Price Target Potential

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    BrokerageTargetPotential
    Sharekhan54015.66%
    Prabhudas Lilladher439-3.75%
    Edelweiss5008.91%
    ICICIdirect.com52012.41%
    Nirmal Bang63628.39%