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Buy Hero MotoCorp: target of Rs 4030: Sharekhan

Sharekhan is bullish on Hero MotoCorp has recommended buy rating on the stock with a target price of Rs 4030 in its research report dated May 07, 2021.

June 10, 2021 / 11:13 AM IST
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Sharekhan's research report on Hero MotoCorp

Q4FY21 results were broadly in line with expectations, with operational performance slightly ahead of expectations. Standalone PAT rose by 39.4% y-o-y in Q4FY21, driven by a 39.2% growth in revenues and a 330 bps rise in EBITDA margin. We believe structural growth in the two-wheeler industry remains intact and Hero continues to benefit from premiumisation of its products, stronghold in the economy & executive motorcycle segments and aggressive product offerings in the premium bike and scooters segments. Stock is attractively valued at P/E multiple of 13.5x, EV/EBITDA multiple of 7.6x its FY2023E estimates, with attractive dividend yield of 3.6%.


We reiterate a Buy rating on Hero MotoCorp Limited (Hero) with an unchanged PT of Rs. 4,030, factoring in strong business outlook and attractive valuations.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: May 27, 2021 12:46 pm

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