Brokerage Firms Downgrade Ratings of Bajaj Auto

by Paul Joseph on March 22, 2013 · 0 comments

Ratings of Bajaj Auto have been downgraded by analysts at top three global brokerage firms. Due to recent run-up prices, lack of demand in the auto sector, challenging competition and increasing fuel prices the ratings of Bajaj Auto Have been downgraded so far in the month of March. JP Morgan Securities downgraded the ratings of Bajaj Auto from “neutral” to “underweight”. Moreover, it has cut the target price to Rs 1,800 from previous 2,060. It said that competition is becoming intense everyday and rivals like MotoCorp Ltd and Honda Motor Co Ltd are likely to raise their capacity. read more

[via Stock Watch - Stock Specific News]

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