CLSA ON SUN PHARMA:

Raise target to Rs 1050 from Rs 1020 Maintain Buy
* Halol clearance will be a key catalyst for the stock
* Increase our FY17CL EPS estimate by 3% post the 1Q results
* Key geographies delivered growth in line with our expectations


*CITI ON SUN PHARMA:

 Maintain Buy, Target Rs 975
* 1Q results are not as strong as headline suggests, buoyed by one time sales
* Competition in Gleevec & US derma market could put some pressure on profitability
* Synergies from Ranbaxy integration, Halol resolution are potential positives

Technical Outlook: Sun Pharma heading towards 796, 825. If it cross, 888 possible