Credit Suisse upgrades Ranbaxy to 'neutral'
Reuters Market Eye - Credit Suisse upgrades Ranbaxy Laboratories Ltd (RANB.NS) to "neutral" from "underperform".
The investment bank says the possible penalty related to the recall of generic Lipitor last year in the United states was likely to be "low." The stock has already factored in the impact.
It adds share prices have also factored in a cash loss on currency options which Ranbaxy may report during its fourth quarter earnings, scheduled to be released on February 26.
Credit Suisse lowers its EPS estimates for the company for calendar years 2013 and 2014 by 6 percent and 11 percent respectively and cuts its target price by 5 percent to 435 rupees.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- Malaysian plane with 239 aboard crashes - report
- Malaysia Airlines plane missing, presumed crashed in South China Sea
- UPDATE 3-U.S. FDA probes cognitive impact of new cholesterol drugs
- Ukraine standoff intensifies; Russia says sanctions will 'boomerang'
PLANE GOES MISSING
A Malaysia Airlines flight carrying 227 passengers and 12 crew went missing over the South China Sea on Saturday, presumed crashed, as ships and planes from countries closest to its flight path scoured a large search area for any wreckage. Full Article