Buy Dr Reddy’s Laboratories: target of Rs 6500: Sharekhan
Sharekhan is bullish on Dr Reddy’s Laboratories has recommended buy rating on the stock with a target price of Rs 6500 in its research report dated January 12, 2021.
January 14, 2021 / 09:04 PM IST
Sharekhan's research report on Dr Reddy’s Laboratories
Growth prospects are improving across most geographies. Business traction, sturdy product pipeline and easing of pricing pressures to drive US sales. A likely improvement in the acquired portfolio and COVID-led growth opportunities in the near term would drive India performance. The Sputnik-V Vaccine, if approved to unlock sizeable growth opportunity. Improving growth prospects, healthy balance sheet and strong return ratios could support P/E multiple expansion. DRL’s sales and PAT expected to clock a 15% and 27% CAGR over FY2020-FY2023.
We retain Buy Recommendation on Dr Reddy’s Laboratories Limited (DRL) with a PT of Rs 6,500.
For all recommendations report, click here
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