Citi has reiterated its buy rating on Sun Pharmaceutical Industries with a target price of ₹2,180 per share, noting that key overhangs related to trade and pricing risks have eased significantly. The brokerage highlighted that the removal of the Most Favoured Nation (MFN) overhang following the Pfizer deal, along with unchanged Medicare and commercial drug prices, has reduced concerns around Ilumya.
Additionally, recent clarification from the White House has eased tariff risks on patented drugs, cutting back a major geopolitical headwind that was weighing on sentiment. Citi said these developments substantially reduce the external risks that had clouded Sun Pharma’s outlook, improving earnings visibility.
The brokerage remains positive on Sun Pharma’s strong specialty pipeline and continued execution in global markets. With geopolitical uncertainties easing and pricing pressures stabilising, the stock is expected to sustain its growth trajectory, underpinned by expanding margins and a healthier risk environment.
Disclaimer: The views and recommendations above are those of Citi. Business Upturn does not endorse them. Please consult a financial advisor before making investment decisions.