Stocks to buy, May 28 -- Shares of Aarti Industries rose nearly 3.5% in early trade on Wednesday, May 28, to hit a 5-month high of Rs.495 apiece, after global brokerage UBS issued a double upgrade on the stock, citing expectations of a gradual improvement in the company's performance.

UBS upgraded its rating on the specialty chemical major from 'Sell' to 'Buy,' while raising the target price to Rs.625 from an earlier Rs.615 per share. The revised target implies an upside potential of about 31% from the stock's closing level on Tuesday.

The brokerage had previously maintained a 'Sell' rating due to concerns over a peaking chemical cycle and downside risks to guidance and consensus expectations in the energy segment, particularly in n-met...