BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare downgrades Dr. Reddys Laboratories to sell
Religare has downgraded Dr Reddy's Lab to "sell" from "hold" earlier with a target price of Rs 2,800. We slash our target price due to a sharp decline in the US base business, non-renewal of McNeil contract and lower margins. Current valuation at 24 times FY18 estimated earnings remain expensive.