UBS has upgraded India's State Bank of India (SBI) to "neutral" from "sell," raising the price target to 840 rupees from 760 rupees. The brokerage cites a changing regulatory environment and central bank measures to enhance liquidity as positive factors for the lender. Additionally, tax rebates in the Union Budget and potential wage bill increases are expected to benefit SBI's customers, thereby boosting loan growth. Despite this, SBI's stock has fallen 2% amid a broader market decline, with a year-to-date drop of 3.3%.