Goldman Sachs has maintained a ‘Neutral’ rating on Lupin, raising its target price to ₹2,225 per share from the previous ₹2,150. The brokerage remains cautious but acknowledges operational improvements and long-term growth drivers.
Key takeaways from the report:
- EBITDA margin improved, supported by a better product mix and lower input costs.
- Lupin is expected to grow at 20%-30% vs the Indian Pharma Market (IPM), reflecting a strong domestic performance.
- The company’s India business is benefiting from its ongoing field force expansion drive, aimed at enhancing market penetration.
- US business expected to see high single-digit to low double-digit growth in the medium term, driven by key launches and market share gains.
- FY25-28 EPS estimates raised by 5%, reflecting better earnings visibility.
With a stable growth trajectory and improving profitability, Goldman Sachs remains neutral on Lupin, awaiting further clarity on its US performance and pricing trends.
Disclaimer: The above article is for informational purposes only and does not constitute financial advice. Investors are advised to consult their financial advisors before making any investment decisions.