UBS raises PT on India's Shyam Metalics and Energy; reiterates 'buy'
BUZZ-UBS raises PT on India's Shyam Metalics and Energy; reiterates 'buy' ** UBS raises PT on India's Shyam Metalics and Energy SHYE.NS to 1,550 rupees from 1,250 rupees; reiterates "Buy" on higher-margin products, capacity expansion, and stronger earnings outlook
** Forecasts EBITDA to improve to 8,400 rupees/ ton by FY31 from 4,700 rupees/ton in FY26 driven by increasing focus on higher-value products
** Raises FY28 and FY29 EBITDA guidance by 3% and 8%, respectively
** Expects earnings growth to exceed volume growth, helped by improving product mix and project execution track
** SHYE shares up 0.30% to 1,057.20 rupees
** Stock rated "Buy" on avg by right analysts, with median PT of 1,195.50 rupees - data compiled by LSEG
** Stock up 24.34% YTD
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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