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 March 03, 2021.

March 04, 2021 / 02:13 PM IST
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Sharekhan's research report on Hero MotoCorp

We interacted with the management of Hero MotoCorp (Hero) to discuss its plans for electric two-wheelers (e-2Ws) and readiness to benefit from increasing e-2W penetration in the medium to long term. We believe structural growth traction in the two-wheeler (2W) industry remains intact and Hero 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. Hero will continue to benefit from its brand equity, due to value-for-money products, extensive service centres, low maintenance cost and higher resale value.


The stock is valued at P/E multiple of 16.1x and EV/EBITDA multiple of 9.5x its FY2023E estimates. We retain a Buy rating on the stock.

For all recommendations report, click here

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first published: Mar 4, 2021 02:13 pm

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