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The Dr Reddy's Laboratories (NSI:DRREDDY) share price has risen by 8.71% over the past month and it’s currently trading at ₹4,340. For investors considering whether to buy, hold or sell the stock, the question now is whether this price run will continue.
According to the company’s analysts, there are certainly reasons to think it will continue to perform well in the year ahead. In terms of trading recommendations, Dr Reddy's Laboratories currently has:
22 Buy recommendations
5 Hold recommendations
0 Sell recommendations
This suggests that analysts are generally positive about the outlook.
Looking behind the broker forecasts
At its current price of ₹4,340, shares in Dr Reddy's Laboratories are trading at a discount of -22.7% to its 52 week high price. The 1-year performance of the shares has been -17.8%.
While analyst forecasts can be a useful guide to what City 'experts' think about a stock's near term future, they can be unreliable. To get a better idea about the strengths and weaknesses of Dr Reddy's Laboratories it's worth doing some investigation yourself. Indeed, we've identified some areas of concern with Dr Reddy's Laboratories that you can find out about here.