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The Economic Times
The Economic Times
Business
Ritesh Presswala

Lupin share falls 2%; Citi downgrades to Sell, cuts target price to Rs 2,050

Lupin Citi United States

Lupin shares came under pressure on Thursday after global brokerage Citi downgraded the stock to ‘Sell’ from ‘Buy’ and sharply cut its target price to Rs 2,050 from Rs 2,540. The stock fell as much as 1.84% to an intraday low of Rs 2,144.70 following the downgrade.

According to an ET Now report citing a Citi note, the downgrade reflects the brokerage’s concerns over Lupin’s US business, which has been a key driver of the company’s growth and profitability.

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