Jefferies has maintained a Hold rating on Cipla, with a target price of ₹1,690, indicating a potential upside of about 10.1% from the current market price of ₹1,535.00.
While India business grew 6% year-on-year and US revenues rose just 1% quarter-on-quarter — both below expectations — the impact was offset by strong performance in Rest of the World (ROW) markets and higher other income.
Jefferies noted that Cipla has maintained its FY26 EBITDA margin guidance of 23.5%–24.5% and remains optimistic that US sales could reach $1 billion in FY27, supported by the company’s product pipeline.
Disclaimer: This article is based on Jefferies’ brokerage report and does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions.
