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Buy Eicher Motors; target of Rs 3600: Motilal Oswal

Motilal Oswal is bullish on Eicher Motors recommended buy rating on the stock with a target price of Rs 3600 in its research report dated August 10, 2022.

August 12, 2022 / 02:36 PM IST
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Motilal Oswal's research report on Eicher Motors


EIM’s 1QFY23 performance was above our estimates, led by lower than expected cost inflation. Easing supply chain issues and continued expansion of the product portfolio will aid the domestic recovery and support a ramp-up in exports. We increase our FY23/FY24 consolidated EPS estimate by 3%/5% to reflect easing commodity prices and operating leverage.



Outlook


We maintain our Buy rating with a TP of INR3,600/share (Sep’24E SoTP).

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For all recommendations report, click here


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Eicher Motors - 110822 - moti

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first published: Aug 12, 2022 02:36 pm
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