Religare - Cadila Healthcare

Religare has a buy on Cadila Healthcare at CMP: Rs 320 with a target of Rs 416

Steady growth; Pantoprazole verdict may upset FY09 estimates

Religare believes CHL's growth drivers remain strong and estimate that the company will witness an earnings CAGR of 20.7% to Rs 3.4bn over FY07-FY09.