Outperform on Cadila Healthcare with a target at Rs 400: Macquarie

Macquarie maintains neutral rating on Cadila Healthcare post March quarter results with a 12-month target price of Rs 400. The US market remains key medium-term lever with Moraiya the only potential hiccup, said the Macquarie note.

Multiples could be under pressure in the near-term on Moraiya remediation and future approvals, said the global investment bank.