Credit Suisse upgrades Ranbaxy to neutral

Credit Suisse upgrades Ranbaxy Laboratories Ltd 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 Rs 435.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Faith is the opium of the masses, so Indians get addicted

    India is a nation of 1.27 billion. Let that number sink in, with all its zeroes. That’s a lot of people.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

M S Swaminathan

Public good research in agriculture

Public good research in agriculture is designed to promote risk ...

Zehra Naqvi

To hell and back

Here is a book that makes you wish there were ...

Bubbles Sabharwal

When your real & reel life heroes are the same

ALL the world’s a stage and we all are merely ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture