Morgan Stanley’s first buyer revival of Maruti Suzuki; Rs 18,360 target means 16% gain
Maruti Suzuki Indian shares traded slightly above Rs 15,842 on Friday, up 0.16%, tracking strong investor interests after the company announced its new SUV Victoris. Morgan Stanley retained its overweight rating with a target price of Rs 18,360, indicating a 16% upside potential at the current level.
Brokerage’s view on Maruti Suzuki, India
Morgan Stanley highlights the revival of first-time buyers in emerging markets, the main growth driver for Maruti Suzuki. The broker expects normalization of the range of discounts in entry-level models and stable sales to positively impact revenue. “First-time home buyers remain a key part of growth. Maruti Suzuki’s focus on this segment could significantly boost revenues,” the report said.
The broker also believes that the launch of new products and export expansion are additional catalysts for medium to long-term growth.
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New SUV launches powered by inventory
Maruti Suzuki’s stock recently hit Rs 15,939 at the intraday high at NSE, up 1%. The stock has earned 4% of revenue over the past three meetings and is backed by the introductory pricing announcement from “Victoris.”
Q1 FY26 performance highlights
For the first quarter of FY26 (April to June 2025), Maruti Suzuki reported net profit of Rs 3,792.40 crore, up 0.87% year-on-year, and revenue of Rs 3860,500 crore, up 7.9% and up 7.9%. EBITDA margins fell from 12.6% to 10.4%, with domestic sales down 4.5%, while exports soared 37.4%, reflecting strong overseas demand.
