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market | IST

Citi upgrades Lupin to ‘buy’ from ‘neutral’, here’s why

Citi has upgraded Lupin to ‘buy’ from ‘neutral’ raising the target price on the stock to Rs 1,360 versus its earlier target price of Rs 1,240.

Citi has upgraded Lupin to ‘buy’ from ‘neutral’ raising the target price on the stock to Rs 1,360 versus its earlier target price of Rs 1,240.
The brokerage house believes that the margin concerns on the company are fading away. Current weak margins are largely because of the non-India business, which just contributes 5-8 percent, however there are enough levers for changes.
The India business also provides a huge downside support because its current valuation captures almost 88-100 percent of the current market price.
According to the firm, the R&D business of Lupin is maturing and that is going to deliver strong growth, going forward.
CNBC-TV18’s Nimesh Shah has more details.
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