November 20, 2018 / 5:26 AM / 4 months ago

BUZZ-India's IPCA Laboratories: Nomura raises PT

** Nomura raises price target on drugmaker IPCA Laboratories Ltd to 915 rupees from 723 rupees

** Brokerage expects earnings growth to remain robust beyond FY21, particularly if FDA issues are resolved by then

** Nomura expects IPCA to deliver 15.2 pct revenue growth over FY 19-21

** Increase in export revenues and sustained above-market growth in India likely to be catalysts for the stock - Nomura

** Sept-qtr profit jumped nearly 24 pct to 1.20 bln rupees ($16.83 mln), company said on Wednesday

** Of the 21 brokerage covering the stock, 15 rate it “buy” or higher, 4 “hold” and one “sell”; median PT is 845 rupees - Refinitiv data

** Stock up about 27 pct this year, as of last close, rises marginally in morning trade on Tuesday ($1 = 71.3175 Indian rupees)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below