Dr. Reddy’s initiated with an Underweight at JPMorgan

JPMorgan analyst Bansi Desai initiated coverage of Dr. Reddy’s with an Underweight rating and INR 3,800 price target. The analyst expects generic pricing pressure to moderate in the U.S.. After a challenging 2022 due to elevated price erosion and increased regulatory scrutiny, the sector is poised to see an accelerated earnings growth, the analyst tells investors in a research note.