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)
- Tweet this
- Share this
- Digg this
- Missing Malaysian jet may have disintegrated in mid-air - source
- EXCLUSIVE - Malaysia plane probe narrows on mid-air disintegration - source
- Afghanistan's powerful Vice President Fahim dies
- India set to challenge U.S. for election-spending record
- Interpol says use of stolen passports on flights "of great concern"
A missing Malaysia Airlines jetliner may have turned back from its scheduled route before vanishing from radar screens, military officers said on Sunday, deepening the mystery surrounding the fate of the plane and the 239 people aboard. Full Article