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Morgan Stanley has put out a note on the Indian automobile sector, sharing a rather positive stance.
Morgan Stanley cut target prices for several Indian auto stocks despite a positive sector outlook.
KEY POINTS
- Ashok Leyland's target price was sharply reduced from Rs 227 to Rs 180 by Morgan Stanley.
- Mahindra & Mahindra's target price was lowered to Rs 3,919 from Rs 4,358, despite being favored.
- Morgan Stanley raised target prices for TVS Motor, Hero MotoCorp, and Maruti Suzuki slightly.
COMPANIES
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