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Buy Eicher Motors; target of Rs 2370: East India Securities

East India Securities is bullish on Eicher Motors has recommended buy rating on the stock with a target price of Rs 2370 in its research report dated November 13, 2020.

November 15, 2020 / 01:20 PM IST
  • bselive
  • nselive
Todays L/H

East India Securitie's report on Eicher Motors

Eicher Motors performance was broadly in-line with our estimates. RE plans to introduce series of new models every quarter. Studio stores in semi-urban areas is one of the finest strategic steps taken by the company. Urban sentiments are reviving and supply chain issue is the thing of the past. Hence, a combination of a new model cycle, improvement in urban sentiments, volumes support from studio stores and easing of supply chain constraints can bring back the glorious days of RE. Dual strategy of network expansion and the new model cycle is the answer to the competition.


We are very positive on the long-term prospects of the company, however, believe the valuations looks full at the moment. Hence, recommend ‘Hold’ for a target price of 2,370 per share, valuing RE & VECV separately.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Nov 15, 2020 01:20 pm

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