BUZZ-India's Bajaj Auto hits record high after BofA upgrade on potential tailwinds

** Shares of Bajaj Auto BAJA.NS up as much as 4.8% to a record high of 5,078.85 rupees

** Stock top gainer on Nifty Auto index .NIFTYAUTO, also drives index up over 1.2%

** BofA Global Research upgrades auto manufacturer to 'Buy,' raises PT to 5,500 rupees from 5,100 rupees - implying an upside of ~7.9% to last close

** All of co's business segments set for growth in FY25 on exports recovery, launch of premium motorcycles in the domestic market and inflation peaks in emerging markets - BofA

** BofA says recovery of co's three-wheeler and two-wheeler segments alongside exports should underpin a 14%-15% CAGR in FY23-FY26

** Avg rating of 43 analysts equivalent of 'buy;' median PT is 5,063 rupees – LSEG data

** As of last close, stock up ~40% compared with a 28% jump in Nifty Auto

(Reporting by Archishma Iyer in Bengaluru)

((Archishma.Iyer@thomsonreuters.com;))