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STAR Share Price Target
Strides Pharma Science Ltd.
Sector: Pharmaceuticals and health care
Sector: Pharmaceuticals and health care
STAR Share Price *
379.85 -12.25 (-3.12%)
* (quote may be delayed)
STAR Share Price Forecast - Consensus
| No. of reports in last year | 7 |
| No. of analysts | 4 |
| Average Consensus Forecast | 540.43 |
| Consensus Potential | 25.88% |
STAR Share Price Target - Broker Reports - 2019
ICICIdirect.com
5-Jul-19
Price @ Call: 392
Target: 472
BUY
Geojit Financial Services
15-May-19
Price @ Call: 438.45
Target: 401
REDUCE
A better quarter with higher revenue from the US …We are lowering our FY20/21 revenue estimate downward by 2.7% and 2.4% respectively to factor immediate loss of revenue from Puducherry plant. However we believe that Strides can achieve a ~18% YoY growth in the US given good filing momentum and new launches. We are also adjusting our FY20/21 PAT estimate downward by 15% and 7% respectively to factor lower other income and muted profit share from JV/ Associates. We value Strides at 15x on FY21E EPS and downgrade the rating to Reduce from ‘Buy’ to factor uncertainty around the USFDA outcome as well as the Arrow exit deal.
HDFC Securities
14-May-19
Price @ Call: 437.9
Target: 570
BUY
US continues to perform We maintain BUY on Strides Pharma (STR) following a bumper 4QFY19 driven by US revival. Our TP is revised at Rs 570/sh (15x FY21E EPS + Rs 30/sh for biopharma) following a 9% cut in FY21E EPS to account for higher interest cost on elevated debt at Rs 31bn.
STANCE With the recent acquisitions, additional 12-15 product launches and return of partnered products, we believe Strides can achieve US$ 215mn in US revenues for FY20E (a growth of 22% YoY). However, the management’s guidance stands at US$ 240mn in US revenues for FY20E. The significant ramp up in the US to drive ~170bps EBITDA margin expansion over FY20-21. Additionally, the reduction in debt post Aus biz sell off will lead to annual savings of Rs 1.7bn in interest cost and amortization, and enable 5x YoY eps growth over FY21E. The US revival and earnings growth, along with an expected improvement in balance sheet, enable us to maintain our positive stance.
STANCE With the recent acquisitions, additional 12-15 product launches and return of partnered products, we believe Strides can achieve US$ 215mn in US revenues for FY20E (a growth of 22% YoY). However, the management’s guidance stands at US$ 240mn in US revenues for FY20E. The significant ramp up in the US to drive ~170bps EBITDA margin expansion over FY20-21. Additionally, the reduction in debt post Aus biz sell off will lead to annual savings of Rs 1.7bn in interest cost and amortization, and enable 5x YoY eps growth over FY21E. The US revival and earnings growth, along with an expected improvement in balance sheet, enable us to maintain our positive stance.
Motilal Oswal
13-May-19
Price @ Call: 485.7
Target: 635
BUY
Operating leverage kicks in; earnings growth set to revive. Valuation and view: We raise our earnings estimate by 9%/7% to factor in better traction in the US and other regulated market, and an improvement in profitability of the emerging market business. Accordingly, we revise our SOTP-based TP to INR635 (prior: INR590). We remain positive on STR on the back of its healthy ANDA pipeline and superior execution in regulated markets, driving a strong turnaround in earnings over the next 2-3 years. Reiterate Buy.
Geojit Financial Services
1-Feb-19
Price @ Call: 460.95
Target: 530
BUY
HDFC Securities
1-Feb-19
Price @ Call: 448.48
Target: 585
BUY
Motilal Oswal
30-Jan-19
Price @ Call: 492.2
Target: 590
BUY
STAR Share Price Target - Broker Reports - 2018
Geojit Financial Services
10-Aug-18
Price @ Call: 424.3
Target: 480
BUY
Motilal Oswal
9-Aug-18
Price @ Call: 414.85
Target: 481
BUY
HDFC Securities
9-Aug-18
Price @ Call: 414.85
Target: 480
BUY
Motilal Oswal
18-May-18
Price @ Call: 415.31
Target: 481
BUY
HDFC Securities
10-May-18
Price @ Call: 572.35
Target: 980
BUY
Motilal Oswal
15-Mar-18
Price @ Call: 692.2
Target: 989
BUY
Axis Direct
8-Mar-18
Price @ Call: 670
Target: 875
BUY
HDFC Securities
27-Feb-18
Price @ Call: 710.6
Target: 1090
BUY
Axis Direct
16-Feb-18
Price @ Call: 714.84
Target: 875
BUY
Motilal Oswal
11-Feb-18
Price @ Call: 723.34
Target: 989
BUY
HDFC Securities
11-Feb-18
Price @ Call: 723.34
Target: 1090
BUY
STAR Share Price Target - Broker Reports - 2017
HDFC Securities
21-Nov-17
Price @ Call: 826.2
Target: 1200
BUY
Motilal Oswal
20-Nov-17
Price @ Call: 787.7
Target: 1214
BUY
Axis Direct
8-Nov-17
Price @ Call: 786.4
Target: 940
BUY
Motilal Oswal
1-Nov-17
Price @ Call: 827.25
Target: 1201
BUY
HDFC Securities
17-Oct-17
Price @ Call: 879
Target: 1200
BUY
Motilal Oswal
14-Sep-17
Price @ Call: 976.12
Target: 1300
BUY
Axis Direct
21-Aug-17
Price @ Call: 906.8
Target: 1030
BUY
Motilal Oswal
8-Aug-17
Price @ Call: 1048.75
Target: 1300
BUY
Axis Direct
27-Jun-17
Price @ Call: 936
Target: 1200
BUY
Axis Direct
9-Feb-17
Price @ Call: 1194
Target: 1340
BUY
Religare
3-Feb-17
Price @ Call: 1189.63
Target: 1230
HOLD
STAR Share Price Target - Broker Reports - 2016
Religare
1-Nov-16
Price @ Call: 1051.25
Target: 1190
HOLD
Centrum
10-Oct-16
Price @ Call: 983.2
Target: 1256
BUY
Religare
22-Aug-16
Price @ Call: 968.05
Target: 1130
HOLD
Religare
18-Aug-16
Price @ Call: 1023.35
Target: 1130
HOLD
Nirmal Bang
27-Jun-16
Price @ Call: 1071.35
Target: 1234
BUY
Axis Direct
17-May-16
Price @ Call: 1199
Target: 1500
BUY
Religare
17-May-16
Price @ Call: 1172.95
Target: 1375
BUY