Credit Suisse upgrades Dr Reddy's Laboratories to 'outperform' from 'neutral' and raises its target price to Rs 2,150 from Rs 1,900, citing expectations for a strong pick up in US sales in the coming quarters.
Credit Suisse also notes the market share for Dr Reddy's Metoprolol drug, used for hypertension, is increasing.
Dr Reddy's also expects upcoming approval of two limited competition products in the United States, Credit Suisse says after meeting with the drug maker's management.
Dr Reddy's also expects fiscal 2015 growth in the United States to be stronger than fiscal 2014 due to some "significant" launches.
