Checkout: Contradictory view of brokerages on Ranbaxy

After the US FDA added Ranbaxy's Mohali plant to consent decree, the stock price tanked on Monday.

On Monday, Ranbaxy Laboratories closed down 30.27 percent or Rs 138.40 at Rs 318.85. At 13:45 hrs on Tuesday, Ranbaxy Laboratories was quoting at Rs 328.30, up Rs 9.45, or 2.96 percent. It touched an intraday high of Rs 338.90 and an intraday low of Rs 320.00. Following are contrarian views on the stock:
Nomura maintains a buy on the stock but lowers the target to Rs 403 from Rs 490 earlier.
Whereas Antique has reverted to sell versus a buy and has cut the target price to Rs 251.
Antique has cut EPS for CY13 by 22 percent and CY14 by 13 percent respectively. Hence at Rs 251 it is trading at around 13 times CY14 earnings and that is why antique has cut its target price.
The reasons for cutting down their target price and reverting to sell is because this is a first instance where a quality problem doesn’t trace back to the old management. Mohali unit in fact was set up to mitigate the import alert impact on Paonta Sahib as well as Dewas. So, the genesis of the current issue started after the management and ownership changes. So this seriously questions the US business revival as a whole.