In a report published Friday, Citigroup reiterated its Buy rating on Dr. Reddy's Laboratories RDY, and raised its price target to $39.36.
Citigroup noted, “We rate DRL Buy with a Target Price of $39.36. REDY, in our view, is among the best placed to capitalize on the multiple growth drivers for pharma over the next 3-4 years. We expect the U.S. (limited competition oppys, rising share in old products), India (sales force addition, new launches) and Russia (OTC push, fast growing market) to drive growth in the medium term, while biosimilars and the emerging markets deal with GSK contribute longer-term. With several catalysts lined up & attractive valuations, we think it is a good time to buy the stock.”
Dr. Reddy's Laboratories closed on Thursday at $34.82.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in