18 Mar 2013

CLSA upgrades Sun Pharma

CLSA has upgraded Sun Pharma from hold to Buy. The brokerage has also raised the price target from Rs 855 earlier to Rs 990. It also expects the business to see ramp up on URL, Taro and niche launches.
CLSA has raised FY14/15 earnings forecast by 12-18 per cent on improved US market prospects. The brokerage firm expects 19.6 per cent core earnings growth over FY13-15.

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