UBS Upgrades Maruti Suzuki India to 'Buy' on Weakened Yen

January 28, 2013 5:53 AM GMT

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(Photo: Reuters/Amit Dave/Files)<br>A worker cleans a Maruti Suzuki Swift Dzire car as he is being reflected on a car at the company&#039;s stock yard at Sanand in Gujarat October 30, 2012.
(Photo: Reuters/Amit Dave/Files)
A worker cleans a Maruti Suzuki Swift Dzire car as he is being reflected on a car at the company&#039;s stock yard at Sanand in Gujarat October 30, 2012.

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

Copyright 2012 Thomson Reuters. All rights reserved.
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