Sharekhan maintains #39;buy#39; on these 15 pharma names post Q2 earnings. Take a look

sharekhan maintains 39buy39 on these 15 pharma names post q2 earnings take a look

Sumary of Sharekhan maintains #39;buy#39; on these 15 pharma names post Q2 earnings. Take a look:

  • Cadila Healthcare, Dr Reddy’s and Sun Pharma among the preferred largecap picks of Sharekhan.
  • Revenues, earnings growth moderated on a Y-o-Y basis versus Q1FY22. Growth during the quarter was driven by India business while US growth was muted.
  • Higher raw material prices and freight charges led to costs pressures leading to margin contraction.
  • Consequently, PAT growth moderated to 9% versus double digit growth in Q1FY22. Aurobindo Pharma | Rating: Buy | LTP: Rs 658 | Target: Rs 875 | Upside: 33 percent | For Aurobindo Q2FY22 was a weak quarter and the results missed estimates.
  • Further, basis the uncertainties persisting for its US business as well as weak performance of ARV segment, broking house revised earnings estimates downwards by around 5% each for FY22E and FY23E.
  • Cadila Healthcare | Rating: Buy | LTP: Rs 459 | Target: Rs 720 | Upside: 57 percent | Cadila reported steady performance in Q2FY22. Sharekhan retained its estimates for FY22E and FY23E.
  • Cipla | Rating: Buy | LTP: Rs 893 | Target: Rs 1,150 | Upside: 28 percent | Cipla’s Q2FY2022 was a healthy quarter and based on management commentary, broking firm fine-tuned FY2022E and FY2023E estimates.
  • Given the de- stocking in the generic API segment and possible cost pressures Sharekhan revised broadly maintained its estimates by 1% / 2% for FY22E and FY23E.

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