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
- Google launches $105 Android One; eyes low-price smartphone boom
- India says to defend China border after standoff ahead of Xi visit
- KKR to lend $175 million to GMR Infrastructure - source
- Alibaba boosts IPO as demand strengthens
- India to decide on diesel deregulation after state polls - oil ministry source
India will decide on ending government control on diesel pricing after elections in two states next month, an oil ministry source said, even though local prices of the fuel are currently higher than the global rates, making a case for a cut in retail prices. Full Article
India says to defend China border after standoff ahead of Xi visit. Full Article