Sharekhan's research report on Aurobindo Pharma
Aurobindo is witnessing improved traction in its US business, which constitutes around half of overall sales. A sturdy new product pipeline, easing of pricing pressures, opportunities arising from shortage of products in the US, and expected recovery in the injectable business would be key drivers for US business. Improving growth prospects, strengthening balance sheet, attractive valuations are the key positive and would support P/E multiple expansion. A 16% correction in stock price in little over a month provides investors a good entry point.
Outlook
We upgrade our recommendation on Aurobindo Pharma (Aurobindo) to Buy from Hold and retain our PT of Rs. 975.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!