Buy Orchid Chemicals, target of Rs 176: Reliance Money
Reliance Money has recommended a buy rating on Orchid Chemicals and Pharmaceuticals with a target price of Rs 176 in its June 12, 2009 research report.
“Orchid Chemicals & Pharmaceuticals (Orchid) is an integrated pharmaceutical company with core competencies in the cephalosporin injectable space and that too in regulated markets of US. Having an established strong base in US cephalosporin segment, the company is now spreading its wings to other regulated markets like Europe and Canada. Further the company is progressing well in the non-penicilin, noncephalosporin (NPNC) and drug discovery front.”
“Orchid is currently trading at an attractive valuation of 5x it FY11 EPS its FY11 EV/ EBITDA. Further looking at the robust earning opportunities in the pipeline and debt reduction comitment, we recommend a ‘BUY’ rating on Orchid with a target price of Rs 176 (8x FY11E),” says Reliance Money’s research report.
source: Moneycontrol
Tags: buy or sell Buy Orchid Chemicals, nse bse tips, orchid chemicals, reliance money, share market india
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