Jefferies on Cipla
Buy, TP raised to Rs 1223
Upcoming launches & pipeline look strong; several high-value products likely to be launched in next 6-9m
A review of inhaler & peptide space indicates both are less chartered territories by generics where co has US filings
Buy, TP raised to Rs 1223
Revise US sales & margin est given strong product launches on horizon
FY23/24 EPS changes by +4%/3%
Revise FY24 EBITDA margin to 24.2% from 23.3% primarily factoring growth from key product launches
