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Buy CEAT; target of Rs 1275: Motilal Oswal

Motilal Oswal is bullish on CEAT recommended buy rating on the stock with a target price of Rs 1275 in its research report dated May 06, 2022.

May 12, 2022 / 02:32 PM IST
 
 
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Motilal Oswal's research report on CEAT


CEAT’s 4QFY22 performance was aided by a recovery in Replacement and Commercial tyre categories. Cost inflation is likely to persist in 1QFY23, with the management raising prices to mitigate the impact, though underrecoveries continue to remain high. We upgrade our FY23 EPS estimate by 17% to account for a recovery in demand and price hikes, while maintaining our FY24 EPS estimate.
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Outlook


We maintain our Buy rating with a TP of INR1,275 per share (based on ~13x Jun’24E EPS).


For all recommendations report, click here

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first published: May 12, 2022 02:32 pm
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