Cadila's stock rising: Credit Suisse
Gives an 'outperform' rating and a target price of Rs 970
Credit Suisse initiates coverage on Cadila Healthcare with an "outperform" rating and a target price of Rs 970.
Investment bank says the midcap drug maker has demonstrated "strong execution" in the United States, with a portfolio mix focusing on low competition products such as nasal sprays and injectable drugs.
USFDA approval of its facilities in Moraiya, part of Gujarat, will re-start new approvals of its drugs in the US market, Credit Suisse adds.
"Cadila is moving up the value-chain with the launch of difficult-to formulate products and its strong execution record provides multi-year growth visibility."