Morgan Stanley upgrades Lupin to overweight, raises target price by 40%

Mumbai: Morgan Stanley has upgraded LupinNSE 4.32 % to overweight from equal-weight and raised target price by nearly 40% to Rs 1094 from Rs 783.

After a sharp fall in earnings and stock price over the past four years, Lupin now appears well positioned for recovery, said Morgan Stanley.

Niche products should drive an earnings revival in FY20-FY21, and visibility is improving all the way to FY23, it added.

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