Indus Capital's Hedayat backs Piaggio, eyes at least 25 percent gain

LONDON (Reuters) - Ali Hedayat, partner at hedge fund Indus Capital, said on Wednesday he backed Italian vehicle manufacturer Piaggio to outperform, boosted by a pick up in sales in Europe and India.

Hedayat said the strong sales growth outlook meant he saw at least 25 percent upside in the stock even with no volume growth in Europe while a 20 percent annualised increase in European sales could see the share price double.

(Reporting by Simon Jessop and Nishant Kumar; editing by Susan Thomas)