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Buy Bosch; target of Rs 18156: Sharekhan

Sharekhan is bullish on Bosch has recommended buy rating on the stock with a target price of Rs 18156 in its research report dated February 11, 2021.

February 16, 2021 / 05:33 PM IST
 
 
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Sharekhan's research report on Bosch


Q3FY21 results beat estimates, driven by faster-than-expected recovery in sales. However, EBITDA margins lagged expectations by 20 bps. We expect Bosch’s earnings to grow robust 46.4% in FY2022E and 21.5% in FY2023E, driven by a rise in demand and operating leverage benefits. Expansion of power tool business’ distribution network, export of BS-VI automotive components to neighbouring countries, increased adoption of connected and EVs would be key growth drivers.


Outlook


We retain a Buy rating on Bosch Limited (Bosch) with a revised PT of Rs. 18,156, factoring a recovery in its business outlook and earnings upgrade.


For all recommendations report, click here


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first published: Feb 16, 2021 05:33 pm

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