Dr. Reddy's Labs Upgraded by Credit Suisse
Credit Suisse upgrades Dr. Reddy's Laboratories(REDY.NS) to 'outperform' from 'neutral' and raises its target price to 2,150 rupees from 1,900 rupees, citing expectations for a strong pick up in U.S. sales in the coming quarters.
Credit Suisse also notes the market share for Dr. Reddy's Metoprolol drug, used for hypertension, is increasing.
Dr. Reddy's also expects upcoming approval of two limited competition products in the United States, Credit Suisse says after meeting with the drug maker's management.
Dr. Reddy's also expects fiscal 2015 growth in the United States to be stronger than fiscal 2014 due to some "significant" launches.
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