Credit Suisse has upgraded Maruti Suzuki, India's biggest automaker, to outperform from underperform, citing expectations for higher sales and margins for the fiscal starting on April 1.
It also raised Maruti Suzuki's target price to Rs 1,671 a share from Rs 1,021, valuing the shares at their historical average of 11 times FY13 expected cash earnings per share.
Maruti shares were up 0.9% at Rs 1,327.35 at 10:43 am.
