December 8, 2017 / 6:42 AM / a month ago

BUZZ-India's Future Consumer surges; MS starts with 'overweight'

** Future Consumer Ltd surges as much as 15.5 pct to 67.7 rupees, its highest since Oct 11

** Stock posts biggest intraday pct gain since Sept 7, on track to post gains for a third straight session

** Morgan Stanley starts coverage on stock at ‘overweight’ with a TP of 95 rupees

** Cites slew of positive factors, including launch of “innovative” products, positive EBITDA, and opportunity to leverage Future Group’s store network

** Expects Future Consumer to be India’s fifth-largest FMCG co in revenue terms by FY21

** Stock has nearly tripled in value this year up to Thursday

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