Monday, June 9, 2008

Stock Idea: Cadila Healthcare


Religare has maintained its buy rating on Cadila Healthcare with a target price of Rs 381 in its June 5, 2008 research report. "We estimate that the domestic market would witness a 12% CAGR over FY08-FY10 driven by consolidation in existing therapeutics as well as entry into newer arears like the neutraceuticals and hospital segment. The outlook on the Hospira JV, which will commence in H2FY09, is very promising."
"Valuations at 11.7x FY09E EPS of Rs 24.6 and 9.6X FY10E EPS of Rs 29.8 remain attractive. We remain Buy with target price of Rs 381 based on 15x FY09E earnings," says Religare's research report

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