Bak of America Merrill cuts Bajaj Auto price target


MUMBAI, May 19 (Reuters) - Bank of America Merrill Lynch on Thursday said it has cut the price target for motorcycle maker Bajaj Auto to 1,340 rupees from 1,480 rupees on expectations of margin pressures and a sales slowdown in the current fiscal year. It however, maintained its 'underperform' rating on the stock. Bajaj Auto March-quarter net profit nearly tripled mainly due to a one-time gain, and it was continuing to face input cost pressures. [ID:nL4E7GG0YB] BOFA-Merrill said it ...

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