Hero Honda, Bajaj Auto ratings upgraded

Hero Honda, Bajaj Auto ratings upgraded
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First Published: Tue, Oct 27 2009. 11 15 PM IST
Updated: Tue, Oct 27 2009. 11 15 PM IST
Singapore: India’s two biggest motorcycle makers Hero Honda Motors Ltd and Bajaj Auto Ltd had their ratings raised at Goldman Sachs on the expectation earnings forecasts will increase for the next four quarters.
Hero Honda, the market leader, was raised to buy from neutral, while Bajaj Auto’s rating was increased to neutral from sell, Goldman Sachs analyst Sandeep Pandya said in a report on Tuesday. Hero Honda’s price estimate was raised to Rs1,912 from Rs1,399, the brokerage said. Bajaj Auto was raised to Rs1,566 from Rs705.
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First Published: Tue, Oct 27 2009. 11 15 PM IST