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    HomeNewsBusinessStocksBuy Ashok Leyland; target of Rs 149: Anand Rathi

    Buy Ashok Leyland; target of Rs 149: Anand Rathi

    Anand Rathi is bullish on Ashok Leyland has recommended buy rating on the stock with a target price of Rs 149 in its research report dated February 12, 2021.

    Broker Research
    February 16, 2021 / 17:19 IST
       
       
      26 Aug, 2025 12:21
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      Anand Rathi's research report on Ashok Leyland

      We expect the replacement demand for higher tonnage and multi axle vehicles to kick in by 2H FY22 which will lead to significant volume led operating leverage and margin expansion, accordingly, we believe earnings will be significant in FY22. Lower debt is a positive. We upgrade our rating to a Buy, with a TP of Rs 149 (29x FY23e).

      Outlook

      We expect a 47% CAGR in revenue over FY21-23, leading to an EPS of Rs4.7. We upgrade our rating to a Buy with a TP of Rs149 (29x FY23e), including Rs12 per share for HLFL ltd.

      For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      Broker Research
      first published: Feb 16, 2021 05:19 pm

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