Citi resumes coverage on Sun Pharma with a 'buy' rating

Thu Feb 21, 2013 3:26pm IST

Related Topics

Stocks

   

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)

FILED UNDER:

"India's Daughter"

Reuters Showcase

Microfinance

Microfinance

Funding the unfunded: India helps small business borrow to grow  Full Article 

Insurance Sector

Insurance Sector

UK healthcare firm Bupa sees strong growth in India  Full Article 

Sensex Rises

Sensex Rises

Sensex edges up; consumer and healthcare stocks rise  Full Article 

Market Eye

Market Eye

FTSE adds nine Indian firms as large-caps in Asia-Pacific ex-Japan index   Full Article 

Indian Ocean Diplomacy

Indian Ocean Diplomacy

PM Modi to ramp up help for Indian Ocean nations to counter China influence  Full Article 

ECB Bond-Buying

ECB Bond-Buying

ECB to launch 1 trillion euro bond buying scheme on March 9  Full Article 

China Economy

China Economy

China signals "new normal" with lower annual growth target  Full Article 

Pharma Sector

Pharma Sector

Panel recommends waiving late-stage trials for some drugs  Full Article 

E-commerce

E-commerce

China backs e-commerce expansion in win for Alibaba, JD.com  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage