BNP Paribas upgrades Dr Reddy stock to Outperform

Published on 10/13/2026 at 09:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BNP Paribas moved Dr Reddy to Outperform with a USD 14.80 target on October 12, 2026. Dr Reddy stock reports Q2 results on October 23, 2026.

Key points in brief

BNP Paribas upgraded Dr Reddy to Outperform and set a USD 14.80 price target on October 12, 2026.
Citi raised its target to INR 1,450 from INR 1,040 on September 29, 2026.
First-quarter revenue fell 5.60 percent to INR 80.71 billion, while net profit fell 69.00 percent.
Dr Reddy will report second-quarter and six-month results on October 23, 2026.

Dr Reddy, pharmaceuticals, BNP Paribas upgrade, FDA inspection, NSE, Illustration mit AI erstellt.

Dr Reddy stock became the subject of a fresh analyst upgrade on October 12, 2026, when BNP Paribas moved the company to Outperform from Neutral and set a USD 14.80 price target. The call adds a new valuation reference as the Indian drugmaker prepares to publish its second-quarter results.

Analyst upgrade sets a new marker

According to Markets Insider on October 12, 2026, BNP Paribas analyst Tausif Shaikh upgraded Dr Reddy from Neutral to Outperform with the USD 14.80 target. The source does not state a previous BNP Paribas target, so the upgrade is the central change rather than a target-price revision.

The new view follows Citi's September 29, 2026 upgrade from Sell to Buy. CNBC TV18 reported that Citi raised its target to INR 1,450 from INR 1,040 and expected Abatacept and Semaglutide Canada to add USD 350 million to USD 400 million to revenue over fiscal years 2027 through 2029.

What does the first-quarter result mean?

The latest reported operating picture remains demanding. In the first quarter of fiscal 2027, revenue fell 5.60 percent to INR 80.71 billion from INR 85.45 billion a year earlier, while consolidated net profit fell 69.00 percent to INR 4.43 billion.

BusinessToday reported that the quarter included an INR 2.40 billion provision for inventory and related costs linked to semaglutide supply disruptions. The same report placed market capitalization at INR 984.9 billion on October 9, 2026, giving the earnings decline a concrete valuation backdrop.

Three recent company milestones

On September 29, 2026, Citi raised its target to INR 1,450 from INR 1,040, according to CNBC TV18. On October 7, 2026, Dr Reddy said an inspection at its Pydibhimavaram facility had produced two Form 483 observations, as reported by BusinessToday. On October 12, 2026, BNP Paribas upgraded the stock to Outperform with a USD 14.80 target, according to Markets Insider.

October 23 brings two key dates

Dr Reddy is scheduled to announce results for the quarter and six months ended September 30, 2026, on October 23, 2026. The company is also scheduled to hold its earnings call at 10:00 a.m. ET that day, according to the company's Form 6-K published by StockTitan. That release will give investors the next direct test of whether semaglutide-related costs and US pricing pressure are easing.