Edelweiss recommended hold rating on Motherson Sumi with a target price of Rs 359 in its research report dated February 13, 2017.
Edelweiss' research report on Motherson Sumi
We estimate consolidated EPS CAGR of 23% over FY16-19 with 27% RoE. We lower our FY18E EPS by 9% to factor in lower domestic margins and revised EUR-INR assumptions, and roll over to FY19E with EPS of INR 19. We maintain ‘HOLD/SU’ with TP of INR 359. At CMP, the stock trades at 18x FY19E PER.
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