Morgan Stanley maintains 'overweight' on UltraTech, Ambuja Cement, downgrades ACC to ‘underweight’: Check share price targets

The analysts at the global brokerage Morgan Stanley upgraded UltraTech Cement and Ambuja Cements, while downgrading ACC to ‘underweight’ due to concerns over growth and competitive positioning.

The brokerage maintained its ‘overweight’ rating on UltraTech Cement, citing strong capacity expansion, cost efficiency, and market leadership as key factors supporting future growth. It has set a 12-month target price of Rs 13,650 for the stock.

Morgan Stanley is also bullish on Ambuja Cements, setting a price target of Rs 590, and expects select cement stocks to perform well in both the near and medium term.

However, ACC faced a downgrade to ‘underweight’ amid concerns over margin pressures and slower growth. Following the downgrade, ACC shares slumped to a fresh 52-week low, dropping 4.76 percent to Rs 1,820.60 on the NSE. By 3 PM, the stock was trading at Rs 1,873.10 apiece, down from the previous close.