Maruti Suzuki shares jump 5% after Jefferies upgrades rating to Buy. Here's the latest target price

Maruti Suzuki shares rose 5 percent after Jefferies upgraded the stock to Buy, setting a target price implying over 23 percent upside from the previous close of Rs 13,412. The brokerage raised its FY27-29 EPS estimates by 2-4 percent, citing strong PV demand in H1 CY2026, easing crude prices near $72/barrel, and softer metal prices reducing margin risks, with a 16 percent EPS CAGR expected over FY26-29. The stock had lagged the Nifty 50 by 16 percent YTD and trades at 24x FY27 PE.