Citi Pharma Ltd (CPHL): Retail & Global Initiatives to Generate Explosive growth - By Sherman Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We initiate coverage on Citi Pharma (CPHL), Pakistan&rsquo;s leading producer of Active Pharmaceutical Ingredients (APIs), with a &lsquo;Buy&rsquo; recommendation. CPHL is offering potential upside of 136% to our SOTP based target of Rs217. We believe that company&rsquo;s new initiatives like 1) venturing into high margin retail segment and 2) expanding in global markets will help in achieving explosive 3-year (FY25-27) earnings CAGR of 75% which will unlock valuation.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">CPHL is a major API supplier of antibiotics and analgesics market (combined API market size of these products is Rs100bn) to big players like HALEON, SAMI, GLAXO and BARRETT HODGSON. T...