Cipla’s stock opened at ₹1,440.00, declining 4.62% from the previous close of ₹1,477.55, with a low of ₹1,407.20 so far today.
Here’s a summary of brokerage reactions:
- Nomura: Maintained a Neutral rating with a target price of ₹1,568. They highlighted Cipla’s in-line results but noted a weak narrative, especially due to supply challenges in North America.
- UBS: Kept its Buy call but reduced the target price to ₹1,960 from ₹2,060. UBS flagged margin pressures and weak India growth as concerns.
- Investec: Retained a Buy rating, trimming the target to ₹1,800 from ₹1,900, mentioning short-term supply issues but affirming confidence in Cipla’s premium valuations.
Cipla’s performance and broker notes reflect cautious optimism amid margin and supply concerns, with investors keeping a close watch on upcoming quarters for potential recovery.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should perform due diligence before making investment decisions.
