UBS upgrades Maruti to 'buy' on yen weakness
MUMBAI (Reuters) - UBS upgraded its ratings on Maruti Suzuki India Ltd(MRTI.NS) to "buy" from "neutral," and raised its price target to 2,000 rupees from 1,500 rupees, 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 Ltd (MRTI.NS) said on Friday its third quarter profit more than doubled.
(Reporting by Abhishek Vishnoi; Editing by Sunil Nair)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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