Maruti Suzuki Share Price Zooms 3.5% After BOFA Sec Raises Target Price

Brokerage Firm BofA Sec raises Target Price on Passenger vehicle leader Maruti Suzuki to Rs.10500/sh from Rs.9500/sh earlier while maintaining its ' Buy' rating on the stock. They say Maruti is finally set to make a solid comeback as they see promising new launches plugging the white space to premium SUVs. The Investor expectations are running low for Maruti Suzuki but BofA feels Maruti’s new models can do well, backed by good design/features. They further add that the Co can gain back 5-6% market share over the next 2 years. BOFA revises up revenue by 6-8% & EPS by 9-10% factoring in new higher ASP

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