Sharekhan's research report on Eicher Motors
Reported EBITDA at Rs 1,021 cr close to our expectation of Rs 1,044 cr led by cost savings. Management is optimistic on RE’s performance in the domestic market, though overseas markets are facing headwinds. Stock trades at P/E multiple of 23.2x and EV/ EBIDTA multiple of 17.4x its FY25 estimates.
Outlook
We maintain our Buy rating on Eicher Motors (Eicher) with an unchanged target price of Rs 3,855 on account of its leadership position in premium motorcycle segment, rising premiumization and its focus on balanced growth.
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