UPDATE: Credit Suisse Initiates Exide Industries at Outperform

Credit Suisse has published a research report on Exide Industries

and has initiated coverage on the company with an Outperform rating. In the report, Credit Suisse writes, "Given the higher share of unorganised players in the high-margin replacement segment, Exide should benefit greatly from a shift towards organised players. Key drivers are: (1) more technologically advanced vehicles demanding higher-quality batteries; (2) higher collection of batteries by organised players, starving the unorganised ones of their key raw material components" Exide Industries is currently trading down $0.07 from yesterday's $2.60 closing price.