Moneycontrol

Budget 2021

Associate Partners:

  • SMC
  • Samsung
  • Volvo

Moneycontrol

Budget 2021

Associate Partners:

  • SMCSamsungVolvo
Webinar :Join an expert panel for a webinar on Smart investments for a secure retirement January 28, 2021. Register now!

Buy Hero MotoCorp: target of Rs 3496: Sharekhan

Sharekhan is bullish on Hero MotoCorp has recommended buy rating on the stock with a target price of Rs 3496 in its research report dated December 30, 2020.

December 31, 2020 / 01:16 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on Hero MotoCorp


HMCL continues to benefit from premiumisation of its products, its stronghold in the economy and executive motorcycle segments, and aggressive products offerings in the premium bike and scooters segments. Exports, electric vehicles, and partnership with Harley Davidson are the next key growth drivers for the company in the long term. The stock is attractively valued with P/E multiple of 15.3x and EV/EBITDA multiple of 8.8x its FY2023E estimates and is at a 15%-20% discount to its long-term average multiples. We recommend Buy on the stock.



Outlook


We reiterate our Buy rating on Hero MotoCorp Limited (HMCL) with a PT of Rs. 3,496, after holding a call with the company’s management. Interaction with the management indicates that structural growth traction in the two-wheeler (2W) industry remains intact.


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: Dec 31, 2020 01:16 pm

stay updated

Get Daily News on your Browser
Sections