Saturday 4 October 2008

Buy Cadila Healthcare, target of Rs 422: Emkay Global

Emkay Global Financial Services has recommended a buy rating on Cadila Healthcare with a target of Rs 422 in its September 30, 2008 research report. "At CMP of Rs 310, the stock is available at discounts (30%) to its peers like Lupin, Biocon and Piramal Healthcare. Moreover, it has been investing significantly on its NCE research (Rs 516 million in FY08), for which it is not getting any value. Adjusting the NCE expenditures, the stock is trading at 9.2x FY10E EPS of Rs 33.8. We initiate our coverage with a "BUY" rating at a target price of Rs 422 (upside of 36%)," says Emkay Global Financial Services' research report.


Source: MoneyControl

Posted by Harsh at 07:49

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