Cadila gets the right dose! Brokerages bullish after Covid 19 vaccine nod, upgrades from CLSA & Morgan

Cadila Healthcare is buzzing in trade as Zydus Cadila has received the Emergency Use Authorization (EUA) from the Drug Controller General of India (DCGI) for ZyCoV-D, the world's first Plasmid DNA vaccine for Covid-19. Brokergaes from Morgan Stanley to CLSA are extremely bullish on the stock on the prospect of the vaccine

CLSA on Cadila Health: Upgraded the stock to a buy with target of Rs 650/share which is a 20% upside from Friday's close. The brokerage expects a double digit growth from the core business and says the recent correction now offers a good entry point.

Morgan Stanley on Cadila Health: Though Morgan is keeping an equal weight they have a more aggressive price target at Rs 664/share as they expect the vaccine launch will provide the pivot to the stock and expect large scale adoption of the dose.