Nomura has downgraded Ceat’s stock to ‘neutral’ from ‘buy,’ cutting its target price due to disappointing Q1FY26 earnings, concerns over the Camso acquisition’s value accretion, persistent input cost pressures leading to reduced earnings estimates, and a belief that the stock is now fairly valued. The downgrade follows a sharp 10% fall in CEAT’s stock over the last two sessions, with Monday’s trading seeing a 5.76% decline.
