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CLSA has tweaked its FY20-22 earnings estimates for the sector by 2 percent-3 percent.

Broking house CLSA has reiterated its bullishness on the pharma space and upgraded the stocks and also raised the target prices.

According to CLSA, the pharma earnings are relatively secure in a market rife with fear of a slowdown as the pharma offers stable revenue/profit streams from a secure domestic market.

It has upgraded the Cipla to buy from sell and Lupin to outperform from sell, while the pecking order is Sun Pharma, Cipla, Cadila Healthcare and Abbott India.

The headwinds from weak emerging market demand and currency should be negated by a strong dollar, it added.

CLSA has tweaked its FY20-22 earnings estimates for the sector by 2 percent-3 percent. The risk-reward remains attractive, it said.The broking house has raised the target of Cipla to Rs 480 from Rs 410 per share and raised the target of Lupin to Rs 660 from Rs 600 per share.

Post Author: Stangrowth

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