India's IPCA Laboratories: Nomura raises PT

Ipca Laboratories

20/11/2018 05:21

** Nomura raises price target on drugmaker IPCA Laboratories
Ltd  IPCA.NS  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  urn:newsml:reuters.com:*:nFWN1XP04M    
    ** 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)

 ((harish.bhaskar.thomsonreuters.com@reuters.net))