Citi resumes coverage on Sun Pharma with a 'buy' rating
Reuters Market Eye - Citigroup resumes coverage of Sun Pharmaceutical Industries Ltd(SUN.NS) with a "buy" rating and a target price of 970 rupees.
Citi says Sun Pharma "stands out" in the sector due a "superior" business mix, with around 80 percent of its revenue coming from the United States and India, and growing fast in the rest of the world.
The investment bank also notes Sun's "excellent" track record on financial metrics, and expects growth to stay "strong" and premium valuations to sustain.
Sun shares were down 0.3 percent as of 3.26 pm, outperforming a 1.5 percent fall in the Nifty.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- Missing Air Algerie plane from Burkina Faso has crashed - Algerian official
- Taiwan launches inquiry into plane crash that killed 48
- Honda's Mobilio car looks to repeat Indonesia success in India
- Ipca halts U.S. shipments from Ratlam plant after FDA finds violations
- Exclusive - Ukraine rebel commander acknowledges fighters had BUK missile
India is set to offer Nepal a landmark pact to help develop its huge hydro-electric power potential as the South Asian giant takes another step to re-assert influence among smaller neighbours where China has been forging closer ties. Full Article