Karvy Stock Broking has rated Dr Reddys Laboratories as an outperformer with a target of Rs 555 in its January 22, 2009 research report. "Revenues for the quarter are up by 49 % to Rs 18,401 million. Profits are at Rs 1,924 million. We rate the core business at 14x and value it at Rs 548 while the Imitrex exclusivity in FY 2010E we value it at 1x and assign a price of Rs 7. We upgrade our price target by 2.4% to Rs 555 and rate the stock as Outperformer," says Karvy Stock Broking's research report.

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