JM Financials cuts PT on India's United Breweries on growth uncertainty
04/09/2026 10:47
BUZZ-JM Financials cuts PT on India's United Breweries on growth uncertainty ** JM Financials reiterates "reduce" on India-based beer company United Breweries UBBW.NS
** Cuts PT to 1,320 rupees from 1,425 rupees
** Shares down 0.3% at 1,279.80 rupees
** JM Financial says market share growth and profit margin have underperformed expectations over last three years, cites uncertainty about stability of growth in near future
** Expects profitability to improve on sales of premium products, EBITDA margins to improve to low teens on double-digit organic sales growth over three to five years
** Stock down 21.07% YTD
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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