BoAML retains buy on Lupin after a launch of birth control drug
Friday, March 17, 2017, 3:50 PM
Bank of America Merrill Lynch has maintained a buy rating on Lupin with a price target of Rs 1,920, implying 32% upside from current levels after the drug maker launched birth control drug in the US. The stock gained more than 1% intraday. The brokerage house expects generic Minastrin to contribute USD 100-50 million sales over FY18-19 at relatively high EBITDA margins of 80-85%.