ICICI Securities has downgraded Ceat to Hold with a target price of Rs 3,625, citing rich valuations after a recent stock run-up. While Ceat aims for leadership in the PV replacement segment and market share expansion in TBR, uncertainties related to US tariffs could impact near-term growth and margins. The brokerage remains watchful despite strong medium-term prospects.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets