Morgan Stanley cuts India's GlaxoSmithKline Pharma shares to 'under-weight'
Reuters: Mumbai, Feb 28 2013, 09:08 IST
Morgan Stanley cut its rating on India's GlaxoSmithKline Pharmaceuticals Ltd to "under-weight" from "equal-weight", citing expectations the drug maker will post modest growth and saying margin expansion looked unlikely.
GlaxoSmithKline's shares are also constrained by its pricing policy and "full" valuations, the broker added.
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