India's Dr Reddy's up as Nomura hikes PT on positive view on earnings, valuations
BUZZ-India's Dr Reddy's up as Nomura hikes PT on positive view on earnings, valuations ** Shares of drugmaker Dr Reddy's Laboratories REDY.NS rise 2.59% to 1,305 rupees, after brokerage Nomura raises its price target to 1,740 rupees from 1,600 rupees
** Nomura maintains "buy" rating; its price target is the second highest among 38 analysts - data compiled by LSEG
** The average analyst rating is "hold," with a median price target of 1,305 rupees
** Nomura says it remains constructive on the drugmaker, citing upside risks to consensus earnings and valuations
** Brokerage points to REDY's rising focus on branded generics and consumer healthcare, reflected in acquisitions and new investments
** Says REDY trades at 23 times FY2027 earnings, which it sees as attractive
** REDY is up 2.5% in 2026, lagging the pharma index's .NIPHARM 8.8% gain but beating the Nifty 50's .NSEI 7.7% fall, according to exchange data
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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