Morgan Stanley cuts GlaxoSmithKline Pharma to 'under-weight'

Morgan Stanley cut its rating on GSK Pharma to "under-weight", citing expectations the drug maker will post modest growth.

Feb 28, 2013, 09.19 AM IST

MUMBAI: 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.

Not making enough money in stocks? Click here for real-life stories of successful investors.

Too busy to trade in stocks? Invest in Mutual Funds with ET Money!