Economic TimesLean R·
UBS upgrades MCX rating to Buy with Rs 3,800 target price: Can it boost the stock?
Global brokerage UBS upgraded Multi Commodity Exchange of India (MCX) to a Buy rating from Neutral, raising its 12-month price target to Rs 3,800 from Rs 3,600. The upgrade follows a recent 15% price correction from its May peak, which UBS noted leaves the stock trading at an attractive valuation of 40x 12-month forward price-to-earning, a discount of more than 10% to its three-year average.Given this strong valuation support, resilient volumes, and positive regulatory developments, the global …
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