Morgan Stanley resumes India's United Spirits shares at 'overweight'

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Morgan Stanley says United Spirits could focus on 'prestige' liquor segment, improving margins. (Reuters) Morgan Stanley says United Spirits could focus on 'prestige' liquor segment, improving margins. (Reuters)
SummaryMorgan Stanley says United Spirits could focus on 'prestige' liquor segment, improving margins.

Morgan Stanley resumes coverage of United Spirits Ltd with an "overweight" rating and a target price of 3,115 rupees.

* The investment bank says new owner Diageo Plc could implement a greater focus on profitable growth for the liquor maker.

* Morgan Stanley says United Spirits could also focus on the "prestige" liquor segment, improving margins.

* The bank also expects capital efficiencies, reduced leverage, strengthened leadership, and consistent disclosures to boost United Spirits' shares.

* As of 0515 GMT, United Spirits shares were up 3.9 percent at 2,501 rupees.

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