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Buy Motherson Wiring; target of Rs 95: Motilal Oswal

Motilal Oswal is bullish on Motherson Wiring recommended buy rating on the stock with a target price of Rs 95 in its research report dated August 06, 2022.

August 09, 2022 / 01:36 PM IST
 
 
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Motilal Oswal's research report on Motherson Wiring


Its performance in 1QFY23 was driven by strong revenue growth, though higher RM costs led to a decline in margin. The company is further geared to serve its EV customers with a new line setup in Chennai (in addition to Pune) for high-voltage wire harnesses. We largely maintain our FY23 EPS estimate, but raise our FY24 EPS estimate to factor in higher revenue growth, led by a strong recovery in PVs, particularly for MSIL.


Outlook


We maintain our Buy rating with a TP of INR95 (35x Sep’24E EPS).


For all recommendations report, click here

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Motherson Wiring - 080822 - moti

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first published: Aug 9, 2022 01:31 pm
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