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Upgrade to Outperform from Hold | Target Rs 2,400 (from Rs 2,000)| LTP Rs 2,200 | Upside 9%

CLSA has upgraded Muthoot Finance to “Outperform” from “Hold” and raised the target price to Rs 2,400 from Rs 2,000, implying a 9% upside from the last traded price of Rs 2,200.

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