Jan 14, 2014, 12.19 PM IST
Macquarie and Jefferies downgrade Ranbaxy, saying the FDA uncertainty could put pressure on valuations in the near-term till further clarity emerges.
Tags Ranbaxy Laboratories, USFDA, Macquarie, Jefferies
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Ranbaxy falls on USFDA woes, brokerages downgrade
Macquarie and Jefferies downgrade Ranbaxy, saying the FDA uncertainty could put pressure on valuations in the near-term till further clarity emerges.
Like this story, share it with millions of investors on M3
Ranbaxy falls on USFDA woes, brokerages downgrade
Macquarie and Jefferies downgrade Ranbaxy, saying the FDA uncertainty could put pressure on valuations in the near-term till further clarity emerges.
Macquarie and Jefferies downgrade Ranbaxy, saying the FDA uncertainty could put pressure on valuations in the near-term till further clarity emerges.
Macquarie downgrades the stock to "neutral" from "outperform" and cuts the price target to Rs 450 from Rs 500, while Jefferies cuts Ranbaxy to "underperform" from "hold" with a price target of Rs 350.
Ranbaxy said on Monday the FDA has filed "certain observations" about its Toansa pharmaceutical ingredients plant in the northern Indian state of Punjab.
"The issue also increases the risk of delay in resolution of import alerts and launch of products," Jefferies said in a note to clients.
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