aurobindo pharma (DeutscheBank) Warning Letter finally arrives, but for 2 units; cut TP

Receives the expected Warning Letter (WL) for Unit VI from US FDA (FDA), but limited impact; But also receives WL for packaging issues at Unit III, which is a big concern; Maintain estimates, cut TP by 9% to INR 245
Date Rating Target Price Recommendation Price Broker house
25 May 2011 buy 245 (from 270) 176 DeutscheBank Report

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