Gold Silver Reports (GSR) – Cadila Healthcare Gains On CLSA Upgrade — Shares of the Ahmedabad-based drug maker rose as much as 3.3 percent, the most in over a month, to Rs 382.55 after CLSA upgraded the stock to ‘Buy’ from ‘Underperform’ and raised its target price to Rs 450 from Rs 440.
CLSA in a note said:
✅ Improving India outlook and strong US pipeline to drive earnings.
✅ Improvement in new launches in U.S. expected in 2018.
✅ Biosimilars, vaccines and novel research products are long-term growth drivers.
✅ Cadila to look for more product deals in specialty space from current fiscal cash flows.
✅ Expect 16 percent compounded growth rate in earnings through the financial years till March 2020.
