MUMBAI (Reuters) – Morgan Stanley and CLSA downgraded their ratings on Cipla Ltd a day after the Indian drugmaker reported a slower-than-expected rise in its October-December net profit. Morgan Stanley cut its ratings to "equal-weight" from "overweight", citing slower growth prospects on the back of limited niche drug launches, lower margins and a higher tax rate. The bank also cut its price target to 414 rupees from 437 rupees. …
There are no comments yet. Why not be the first to speak your mind.