Hero MotoCorp seen as a rural proxy, says UBS as it cuts target price to Rs 3,300; stock down 4%

The global brokerage has warned that Hero MotoCorp may be entering a downturn and is viewed as a rural proxy, cutting the stock's target price to Rs 3,300—the lowest on the Street. This target suggests a 35.5% downside from Thursday's closing price, with a reiterated 'sell' rating.