Brokerages raise target price on Lupin by up to 50% CLSA retained a ‘sell’ rating saying that the key positives are more than priced in at 27 times FY23 price to earnings. Synopsis Progress on other respiratory assets, biosimilars and resolution of warning letters will enhance medium-term growth visibility, said Kotak Institutional. Mumbai: Brokerages have raised target price on Lupin by 9-50% after the company on Thursday reported an 18% increase in its consolidated net profit for the March quarter. Shares of Lupin ended down 2.6% at ₹1,178.80 on Friday. Kotak Institutional Equities said Lupin is well positioned to deliver strong margin expansion over FY22-23. Progress on other respiratory assets, biosimilars and resolution of warning letters will enhance medium-term