UBS upgrades Maruti Suzuki to ‘buy’ on yen weakness
UBS raises price target to `2,000 from `1,500
Mumbai: UBS upgraded its ratings on Maruti Suzuki India Ltd to “buy" from “neutral," and raised its price target to ₹ 2,000 from ₹ 1,500, noting the weakening Japanese yen over the past three months would boost earnings.
Maruti Suzuki is also well positioned to benefit from improvements in petrol car sales, UBS added.
Maruti Suzuki India said on Friday its third quarter profit more than doubled. Reuters
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