Dr. Reddy’s Laboratories stock price will rise in absolute terms over the next 45 days,says Morgan Stanley citing expectations of strong October-December results.
The major driving force will be the momentum in the base business and short-term Zyprexa exclusivity.
In addition,the base business is likely to strengthen in the ensuing weeks/months… said Morgan Stanley in a note On Thursday.
The bank added that valuations appear inexpensive at current levels based on FY12 and FY13 expected earnings.
At 10:03 a.m,shares of Dr Reddy’s were up 0.14 percent at 1,583 rupees.
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