HSBC Sees 15% Upside for UPL Shares, Raises Target Price to ₹925

• HSBC upgraded UPL's target price by 9% to ₹925, maintaining a 'buy' rating on the shares.
• The brokerage projects a 15% upside potential for UPL shares from its previous closing price.
• UPL's subsidiary Advanta is highlighted as a strong value creator with impressive revenue and EBITDA CAGR.
• Potential listing of Advanta could unlock value and aid UPL's debt reduction, according to HSBC.
• UPL revised its EBITDA growth guidance to 12-16% and maintained 4-8% revenue growth for FY26.

Why It Matters: HSBC's 'buy' rating and increased target price signal strong growth potential for UPL shares.