2 GLAXO share price target reports by brokerages below. See what is analyst's view on GLAXO 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.
We downgrade our revenue estimates for FY21E by 4.3% to Rs 34.5 bn and introduce our revenues for FY22E. We downgrade our EBITDA margins for FY21E by 170 bps to 21.1% on account of higher personal cost and introduce our FY 22E EBITDA margins at 22.4%. We downgrade our EPS estimates for FY21E by 15.3% to Rs 31.5 and introduce our EPS estimates for FY22E at Rs 36.9. We roll over our price target to FY22E and maintain our ‘SELL’ rating on the stock with a price target of Rs 1292 based on 35x FY22E.
We maintain our estimates for FY20/21, factoring in moderate revenue growth on account of portfolio rationalization and the increased share of relatively high-margin products in the portfolio. We continue valuing GLXO at 43x 12M forward earnings to arrive at a target price of INR1,350 (prior: 1,309). While improved profitability may drive a 16% earnings CAGR over FY19-21, valuations provide limited upside from current levels. We, thus, maintain our Neutral rating on the stock.
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
DISCLAIMER: Information is provided "as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and FrontPage will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein.