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Buy Escorts; target of Rs 914: Anand Rathi

Anand Rathi is bullish on Escorts has recommended buy rating on the stock with a target price of Rs 914 in its research report dated May 15, 2020.

May 16, 2020 / 03:38 PM IST
 
 
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Anand Rathi 's research report on Escorts


A good rabi crop and an expected favorable monsoon lead us to expect pent-up demand in Jun-Oct’20. We believe tractor demand would continue strong even in FY22. We expect the margin to decline in FY21 due to lower volumes, and recover in FY22.


Outlook


We are upgrading the stock to a Buy (earlier a Sell), with a revised target of `914 (earlier `726).


For all recommendations report, click here


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first published: May 16, 2020 03:38 pm

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