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Buy Bosch; target of Rs 20,000: ICICI Direct

ICICI Direct is bullish on Bosch has recommended buy rating on the stock with a target price of Rs 20,000 in its research report dated August 04, 2022.

August 06, 2022 / 10:00 AM IST
The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

 
 
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ICICI Direct's research report on Bosch


Bosch Ltd (Bosch) is a technology leader providing solutions in automotive, industrial technology, consumer goods, energy & building technology. Mobility solutions (automotive products) comprised ~85% of FY22 sales with share of Business Beyond Mobility at ~15% • Within mobility, it has large presence in diesel-dependent vehicles & tractors.



Outlook


We value Bosch at 32x P/E on FY24E EPS of Rs 625 for a revised target price of Rs 20,000 per share (earlier Rs 16,100).

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first published: Aug 6, 2022 10:00 am
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