Moneycontrol PRO
LIVE NOW:Join us for the exciting discussion with Danone on role of nutrition, protein in working proffessional's quality of life

Buy Eicher Motors; target of Rs 3200: Motilal Oswal

Motilal Oswal is bullish on Eicher Motors recommended buy rating on the stock with a target price of Rs 3200 in its research report dated May 27, 2021.

June 10, 2021 / 11:33 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Motilal Oswal's research report on Eicher Motors


Eicher Motors (EIM)’s 4QFY21 performance was in-line, supported by good volume recovery in both RE and VECV. Despite cost inflation, EBITDA margins per unit were stable QoQ. Good response to Meteor, upcoming launches of the new Classic, and normalized production would support RE volume recovery going forward. VECV is also firmly on the recovery path.


Outlook


We cut FY22E consol. EPS by 7%, accounting for the COVID impact on volumes and commodity inflation, while maintaining FY23E earnings estimates. Maintain Buy, with TP of INR3,200 (Mar’23 SOTP).


For all recommendations report, click here


Disclaimer: 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.

Broker Research
first published: May 31, 2021 12:35 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark