hsbc lowers glenmark pharma target while morgan stanley upgrades suzlon energy

HSBC has revised its target for Glenmark Pharma to ₹1,600 per share from ₹1,660, while maintaining a hold rating.

The adjustment comes after the company"s second-quarter results fell short of expectations due to increased overhead costs, despite strong sales in India.

Analysts believe that the company"s US sales and margins can be improved through new product launches and supplies from the Monroe plant.

On the other hand, Motilal Oswal (MOSL) has recommended buying Glenmark Pharma with a target price of ₹1,820 per share.

MOSL highlights that the company"s earnings are driven by its performance in India and Europe.

Glenmark Pharma is working to address regulatory issues with the Monroe facility and expects an improved product mix.

However, rising marketing and freight expenses are a concern.

Glenmark Pharma also has plans for future market launches and will allocate a significant amount for R&D in its Ichnos Glenmark Innovation segment.

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