Eicher Motors shares rose 6% after UBS upgraded its rating to 'Buy' and raised target price.

Eicher Motors shares rose by 6% after global brokerage firm UBS upgraded its rating from 'Neutral' to 'Buy', with a revised target price of Rs 5,000, implying a potential upside of 34.5%. UBS expects Royal Enfield's 450 cc platform launch to address competition and growth concerns, and forecasts a 10% domestic volume CAGR for Royal Enfield between FY24-26, outpacing the industry's 6-7%.

March 20, 2024
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