Dolat Capital Maintains ‘Add’, But Cuts Target Price — Here’s Why

Dolat Capital Maintains ‘Add’, But Cuts Target Price — Here’s Why


We maintain our ‘Accumulate’ rating on Lupin Ltd. with a revised target price of Rs 2,162, valuing at 28x FY27E P/E. Timely launches of injectables and inhalation products will be further triggers to our earnings estimates.

Key risks:

US price erosion, higher competition in key products and escalation of compliance issues at Taradeep/ Mandideep Unit-I plants.



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