17 April, 2014 00:43 IST
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`Buy` Alembic Pharma; target Rs 77: Angel Broking
Source: IRIS Exclusive (09-FEB-12)
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Angel Broking has recommended `Buy` on Alembic Pharmaceuticals with a price target of Rs 77 in its report dated Feb. 09, 2012. The broking house gave the following rationale:

For 3QFY2012, Alembic Pharmaceuticals` net sales came in at Rs 3.83 billion, up 15.0% yoy. During the quarter, exports rose by 45.4% yoy to Rs 1.65 billion. While sales were just in-line with our estimate, OPMs came in at 18%, higher than our expectation of 14%. Net profit for the quarter came in at  Rs 4.42 billion.

We maintain our Buy recommendation on the stock with a target price of Rs 77.

Click here to view full report

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