Citi upgraded Dr Reddy's to buy, raising target price to around Rs 1450, citing biosimilar and margin outlook

Tue 29 Sep 2026

Target price

1450 rupees

FY27 EPS raise

2 percent

FY28 EPS raise

5 percent

FY29 EPS raise

19 percent

Revenue contribution FY27-FY29

350 to 400 million dollars

Heard on Live TV News Channel between 12:14:00 - 12:15:15 IST.

• Citi upgraded Dr Reddy's to buy with target price raised to around Rs 1450.
• Citi raised FY27, FY28, FY29 EPS estimates by 2%, 5% and 19% respectively.
• Biosimilars Abatacept and Semaglutide (weight loss drug in Canada) expected to add $350-400 million over FY27-FY29.
• North America revenues from these two drugs modeled at around $900 million.
• Margins expected to rise to around 20% in FY29 from 14% in FY27, aided by 150 bps from operating leverage/cost initiatives and 400-500 bps from Abatacept and Semaglutide launches.

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