HAL Downgraded by UBS to 'Neutral'; Stock Slips 2.8%

🔻 UBS downgraded

to 'neutral', citing limited upside from near-term triggers and a trimmed order book CAGR forecast—cut to 14% from 21% for FY26-28. HAL’s stock dipped 2.8% to ₹4,877.25. UBS set a revised target of ₹5,600, implying a 14.5% potential gain. Manufacturing revenue is expected to contribute 40% by FY28.