Rubicon Research shares can rally 22%, says Motilal Oswal after initiating with ‘Buy’ rating

Shares of Rubicon Research rose up to 3% on October 31 after Motilal Oswal initiated coverage with a ‘Buy’ rating and a target price of Rs 740, implying a 22% upside. The brokerage highlighted Rubicon’s strong R&D-led growth, expanding US portfolio, and 43% earnings CAGR outlook, citing its efficient product launches and premium valuation potential.