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BofAML upgrades this auto stock to 'buy' despite ongoing slump; here's why

Updated : December 17, 2019 11:46 AM IST

Despite slump in the auto industry, Bank of America Merill Lynch (BofAML) has upgraded the stock to 'buy' from 'neutral'.
It has also raised its target price to Rs 8,650 from Rs 7,450 earlier.
The brokerage expects the company's earnings growth to bottom in FY20 and improve in FY21-22.
BofAML upgrades this auto stock to 'buy' despite ongoing slump; here's why
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