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MARKET EYE-Lupin to sustain 'excellent' track record-Citi
July 16, 2012 / 7:53 AM / in 5 years

MARKET EYE-Lupin to sustain 'excellent' track record-Citi

* Citigroup raises its target price of drug maker Lupin
 to 640 rupees from 570 rupees, while maintaining its
"buy" rating, after meeting with management. Lupin shares last
up 3.1 percent at 572.05 rupees
* "Our meeting with Lupin reinforces our confidence on the
company's ability to sustain its excellent track record on
growth & capital efficiency," Citigroup says in a note dated
Monday.
* Citi expects "healthy" growth and "improved profitability" in
each of its key markets: India, the United States, and Japan.
* However, Citi lowers its fiscal 2013-14 EPS forecast for Lupin
by around 5 percent due to higher effective tax rate
assumptions. 

 (manoj.dharra@thomsonreuters.com)

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