Buy Escorts; target of Rs 1326: Anand Rathi

Anand Rathi is bullish on Escorts has recommended buy rating on the stock with a target price of Rs 1326 in its research report dated July 28, 2020.

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July 30, 2020 / 06:30 PM IST

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Anand Rathi 's research report on Escorts

Despite the current challenges, we have seen faster revival in Escorts tractor business this quarter. Ahead, we believe its tractor business would grow in line with the industry, driven by strong rural demand across regions. With this, we expect demand to continue to grow in FY22. We maintain our Buy rating with a target of `1,326 (earlier 914).

Outlook

We maintain a Buy rating on the stock with a revised target of `1,326 (18x FY22e), earlier `914.

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