MUMBAI, May 23 (Reuters) - Morgan Stanley downgraded Ashok Leyland , India's second largest commercial vehicle maker, by two notches to "underweight," saying there were no positive triggers for the stock going ahead. All incremental catalysts are negative, including the upcoming diesel price hike and weakening freight growth trend, Morgan Stanley said in a note. It cut its price target on the stock to 45 rupees from 83 rupees, driven by a 20 percent cut in fiscal 2012 earnings estimates ...
Premium Content (PAID Subscription Required)
"Morgan Stanley downgrades India's Ashok Leyland to underweight" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.