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Shares in Wokhardt Ltd gained as much as 2.5 per cent as Citigroup upgraded the stock to "buy" from "sell" and increased the price target to Rs 1,880 from Rs 1,010.
US business is likely to deliver higher margins given the niche products in its portfolio, Citigroup said.
Wockhardt's earnings could double, even on conservative assumptions, once it resolves issues at two plants under import alerts, Citi said.
On Thursday, Macquarie upgraded the stock to "outperform".
Shares in Wockhardt gained 123.2 per cent in 2014, outperforming the 31.4 per cent rise in the broader NSE index.
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