UBS starts Eureka Forbes with 'buy' rating, 640 rupees PT

Eureka Forbes

13/03/2026 04:53

** UBS initiates coverage on Eureka Forbes EURK.NS with Buy rating, PT of 640 rupees

** PT implies 43.8% upside to last close of 445 rupees

** Brokerage expects favourable top-down tailwinds to support underpenetrated water purifier category

** Expects co's investment push in capex to drive market share by 150 bps in water purifiers in FY27-28

** Scale-up of higher-margin service and filter business may drive 250 bp margin expansion in FY26–30

** Sees 18% revenue growth in vacuum cleaner/air purifier biz in FY26–33 on low penetration

** Says rising health and hygiene awareness a positive

** Stock rated "Strong Buy" by 11 analysts with a median target of 710 rupees, according to data compiled by LSEG

** EURK is down 0.4% at 446 rupees, down 28% YTD

 (Reporting by Yagnoseni Das in Bengaluru)

 ((Yagnoseni.Das@thomsonreuters.com;))