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Hero MotoCorp Gains on Morgan Stanley Upgrade

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Hero MotoCorp Gains on Morgan Stanley Upgrade

Shares in Hero MotoCorp Ltd gain as much as 2.4 per cent after Morgan Stanley upgrades the motorcycle maker to "overweight" from "equal-weight" and raises its price target to Rs 2,723 from Rs 1,747.

The investment bank cites expectations of a turnaround in the two-wheeler sector in fiscal 2015, potentially leading to stronger earnings, while also noting attractive valuations.

Shares in Hero MotoCorp were up 1.58 per cent at Rs 2,383 at 2:36 p.m.

Copyright: Thomson Reuters 2014

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