Sunpharma Rating
MORGAN STANLEY ON SUN PHARMA : 28.05.2021
* Maintain Overweight, Target at Rs 705/share
* Sun expects all round sales growth in FY22 including US, global specialty
* Positive operating leverage should result in margin improvement
* Specialty ramp-up, balance sheet strengthening; Potential Halol remediation are drivers for possible stock re-rating
CS ON SUN PHARMA : 28.05.2021
* CS has an Underperform call on Sun Pharma as it expects Specialty sales to decline further in Q1
* MAINTAIN UNDERPERFORM TARGET: 525
* Specialty Sales Missed Estimates In Q4 Should Further Decline
* Sales Growth Guidance For FY22 Is Not Provided In Concall
MS ON SUN PHARMA : 28.05.2021
MAINTAIN OVERWEIGHT TARGET: 705
* MS has an Overweight rating on Sun Pharma, but target is target near the CMP
* Co Expects All-round Sales Growth In FY22
* Positive Op Leverage & Growth Rebound Should Help Margin
* Specialty Ramp-up, Strong B/S & Halol Remediation Key Drivers
CLSA ON SUN PHARMA : 28.05.2021
* MAINTAIN BUY TARGET: 850
* CLSA maintains Buy call on Sun Pharma with a expectation of a PE rerating
* India Sales Grew 13% YOY, But Global Specialty Sales Dipped 6% QoQ
* Key Specialty Products Are Gaining Ground
* Significant Operating Leverage Will Accrue Over The Coming Years
* Success In Specialty Products Should Drive A PE Rerating
* Raise FY22-23 EPS Estimate By 1 3%
JPMORGAN ON SUN PHARMA : 28.05.2021
* I Maintain Overweight on Sun Pharma
* Taro and specialty moderation impact margins
* Believe that the increasing contribution from specialty to reflect
* Remain buyers into any correction to play the upside from the specialty ramp-up
