UBS has maintained a ‘Buy’ rating on Sun Pharmaceutical Industries with a target price of ₹2,450, while flagging near-term regulatory and policy uncertainties.
The brokerage noted that Sun Pharma is undergoing multiple management responsibility changes, and that its Halol plant recently underwent an inspection that resulted in eight observations. The nature and severity of these findings will be key to watch, UBS said.
The firm also highlighted Sun’s exposure to manufacturing in Israel via Taro, at a time when geopolitical and tariff-related risks are rising. One of the biggest investor overhangs, according to UBS, is the pending clarity on US tariffs on branded drugs, with industry expectations pointing to an announcement next month. Until then, investor sentiment is likely to remain cautious, UBS added.
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