ibnlive » Business

Jan 28, 2013 at 01:00pm IST

UBS upgrades Maruti Suzuki India to 'buy' on yen weakness

Mumbai: UBS upgraded its ratings on Maruti Suzuki India Ltd to "buy" from "neutral," and raised its price target to Rs 2,000 from Rs 1,500, 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 said on Friday its third quarter profit more than doubled.

UBS upgrades Maruti Suzuki India to 'buy'

The UBS said Maruti Suzuki is also well positioned to benefit from improvements in petrol car sales.

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