Citi has maintained a Buy rating on Maruti Suzuki stock, raising the target price to ₹14,500 from ₹13,700, indicating a 13.6% upside from the current market price (CMP: ₹12,759.95). The brokerage continues to view Maruti Suzuki as its top pick in the Indian auto sector, citing expectations of a better product mix and lower discounts.
Earnings estimates for the company have been raised by 5-7% for FY25-27, driven by stronger demand and an improved pricing strategy. Citi has also marginally increased the target EV/EBIT multiple to 24x from 23x, reflecting a better volume outlook for the automaker.
Disclaimer: The views expressed are those of the brokerage firm and not of Business Upturn. Investors are advised to conduct their own due diligence before making any investment decisions.