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Dr. Reddy's Laboratories Limited (NYSE:RDY)‘s stock had its “outperform” rating reaffirmed by Zacks in a research report issued on Tuesday. They currently have a $54.00 target price on the stock. Zacks‘s price target points to a potential upside of 19.63% from the stock’s previous close.

Zacks’ analyst wrote, “Dr. Reddy’s first quarter fiscal 2015 results were impressive with the company recording year-over- year growth in both the top- and bottom lines. Earnings per American Depositary Share (ADS) of $0.54 in the first quarter of 2015 were up 54.3% from the year-ago period. The company reported revenues of $586 million during the quarter, up 23.6% from the year-ago period. The company has a strong ANDA pipeline and is also targeting the lucrative biosimilars market. The company is also focusing on emerging markets and OTC products. Hence, we maintain our Outperform recommendation on Dr. Reddy’s.”

A number of other analysts have also recently weighed in on RDY. Analysts at TheStreet upgraded shares of Dr. Reddy's Laboratories Limited from a “hold” rating to a “buy” rating in a research note on Thursday, July 3rd. Separately, analysts at Barclays upgraded shares of Dr. Reddy's Laboratories Limited from an “equal weight” rating to an “overweight” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $54.00.

Dr. Reddy's Laboratories Limited (NYSE:RDY) traded down 0.89% during mid-day trading on Tuesday, hitting $44.74. 331,005 shares of the company’s stock traded hands. Dr. Reddy's Laboratories Limited has a 52-week low of $31.32 and a 52-week high of $47.93. The stock has a 50-day moving average of $43.36 and a 200-day moving average of $43.14. The company has a market cap of $7.611 billion and a price-to-earnings ratio of 20.08.

Dr. Reddy's Laboratories Limited (NYSE:RDY) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.54 EPS for the quarter. The company had revenue of $486.00 million for the quarter, compared to the consensus estimate of $474.00 million.

Dr. Reddy’s Laboratories Limited (NYSE:RDY) is an integrated global pharmaceutical company.

To view Zacks’ full report, visit Zacks’ official website.

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