ICICI Direct has given Hold recommendation for Dr Reddy’s Laboratories with a target price of Rs. 5250 in its research report issued on Jul 28, 2021

ICICI Direct’s research report on Dr Reddy’s Laboratories

Dr Reddy’s (DRL) portfolio includes pharmaceutical generics, APIs, custom pharmaceutical services, biosimilar and differentiated formulations. Revenue: US (37%), India (18%), Russia and CIS (12%), Europe (8%), RoW (6%) and API (16.8%) It has 13 formulation facilities, nine API manufacturing facilities, one biologics facility and several R&D centres across the globe

Outlook

We retain our HOLD rating on the stock We value Dr Reddy’s at Rs 5250 i.e. 25x P/E on FY23E + Rs 317.2 for NPV of gRevlimid and Sputnik.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *