New Delhi, June 16 -- UBS has revised its stance on L&T Finance Holdings, downgrading the stock to a 'neutral' rating from its previous 'buy' call, even as it raised the target price from Rs.177 to Rs.210 per share. The new target implies a potential upside of 13 percent from the stock's closing price on Friday. The brokerage believes that after a strong run-up, the risk-reward for the NBFC stock now appears evenly balanced.

UBS noted that shares of L&T Finance have surged 39 percent over the past three months, significantly outperforming broader benchmarks. The brokerage believes that the rally already reflects a substantial improvement in the company's core business, especially in the microfinance (MFI) segment. It added that while ope...