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Deutsche Bank upgrades Maruti Suzuki
SME News, Friday, Oct 12, 2012 16:59:36 PM IST
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NEW DELHI: Deutsche Bank upgraded Maruti Suzuki to purchase from hold and raised its target price to Rs 1,600 from Rs 1,100.
The bank also sees earlier concerns on high levels of inflation, interest rates and widening of the gasoline-diesel price difference easing.
The positive view is primarily due to the improving outlook for petrol vehicles and Maruti's strengthening position in diesel vehicles.
Maruti's doemstic sales is expected at 1.1-1.3 million vehicles in FY13-FY14 and expect EBITDA margin to broaden 130 basis points (bps) to 8.8 percent in FY14.
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