Emkay Global upgrades Ashok Leyland, raises target price
Updated : November 13, 2019 02:24 PM IST
Emkay Global upgraded Ashok Leyland to ‘Buy’ from ‘Sell’ and also increased the Target Price to Rs 112 from Rs 63 earlier.
Emkay Global expects the MHCV industry to remain weak with a 30% fall in volumes in FY20E and then see a gradual recovery with a 7% CAGR over FY20-22E
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