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Last Updated : May 21, 2020 08:28 PM IST | Source:

Buy Bajaj Auto target of Rs 3000: Sharekhan

Sharekhan is is bullish on Bajaj Auto has recommended buy rating on the stock with a target price of Rs 3000 in its research report dated May 20, 2020.

Broker Research @moneycontrolcom
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Sharekhan's research report on Bajaj Auto

Bajaj Auto Ltd (BAL) Q4 results beat estimates driven by higher realisations per vehicle and margins due to better product mix and favorable forex realisation. 2W are expected to witness faster recovery owing to higher rural exposure. Rural sentiments are strong due to strong rabi harvest. Recent Government move to open end markets for farmers would also boost income. BAL is expected to continue outpacing industry driven by new launches in domestic market and entry into newer markets overseas.


Valuations at 14.4x FY22 earnings are lower than long term averages. Maintain Buy with an unchanged PT of Rs 3,000.

For all recommendations report, click here

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First Published on May 21, 2020 08:28 pm
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