Lupin Stock Outlook: Citi Downgrade Vs Bernstein Buy; Is The Pharma Stock A Buy Now?

Lupin is seeing sharply different views from global brokerages. Citi has downgraded the stock to Sell with a ₹2,050 target, citing slowing US business, margin pressure and execution risks. Bernstein, however, maintains an Outperform rating with a ₹2,707 target, pointing to opportunities including Ivacaftor. Sunny Agrawal, DVP, Head of Fundamental Desk, SBI Securities, says Lupin’s domestic business continues to outperform the Indian pharmaceutical market, helping offset potential moderation in US sales. After the recent correction, he believes the risk-reward is favourable for long-term investors, with a fair value of ₹2,350–₹2,400. He also highlights Concord Biotech, Anthem Biosciences and Aarti Life Sciences as preferred pharma ideas.