Morgan Stanley has reiterated its ‘Overweight’ rating on Ultratech Cement, setting a target price of ₹14,000/share, which implies an upside of nearly 24% from the current market price of ₹11,266.
The global brokerage expects Ultratech to be a strong earnings compounder over multiple years, driven by:
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Robust volume growth potential
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Multiple revenue levers, including premium product mix and network expansion
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Cost optimisation initiatives that could support margin resilience
Morgan Stanley justifies the stock’s premium valuations in light of these growth catalysts and has reaffirmed that Ultratech Cement remains its top pick among cement stocks in India.
Disclaimer: This article is based on brokerage reports and is meant for informational purposes only. Business Upturn does not provide stock advice or investment recommendations.
