Jefferies upgrades Dr. Reddy’s stock rating on margin outlook

Jefferies upgraded Dr. Reddy’s Laboratories Ltd. (DRRD:IN) (NYSE:RDY) from Underperform to Hold, citing a price target of INR1,320.00. The firm noted that Dr. Reddy’s September quarter EBITDA exceeded estimates by 15% despite in-line revenue, reflecting a robust gross profit margin of 49.5%. The company expects to resume supplies for Semaglutide in November 2026 and U.S. approval for bAbatacept in December 2026, which will positively impact its core business in India and the rest of the world.

Brief written by urgent.news from Investing.com's own syndicated text. Machine-written — may contain errors; check the original before relying on it.