New Delhi, March 7 -- Global brokerage firm HSBC Global Research, in its latest report, cut its target price on Sun Pharmaceutical Industries to Rs.2,000 per share from an earlier target of Rs.2,280 per share but maintained its 'buy' rating. The new target price indicates a 24% upside from the stock's latest closing price.

While the brokerage remains positive on the growth outlook for Sun's key specialty brands (Ilumya, Winlevi, and Cequa), it noted some delays in clinical trials for pipeline assets. However, it believes Sun remains committed to investing in R&D for specialty assets.

As a result, HSBC lowered its FY27E EPS estimate to Rs.59.37, factoring in increased R&D investments and a decline in gRevlimid sales. The changes to FY25 ...