Buy TVS Motors; Target Of Rs 470: Sharekhan
Sharekhan is bullish on TVS Motors has recommended buy rating on the stock with a target price of Rs 470 in its research report dated October 29, 2020.
Nov 2, 2020 / 03:08 PM IST
Sharekhan's research repor on TVS Motors
TVS Motors Limited’s (TVSM) Q2FY2021 results were higher than our as well as consensus estimates, driven by better-than-expected margin performance. TVSM is witnessing strong recovery in domestic demand with retail sales turning positive in the initial festive days. Export demand has picked up strongly with strong double-digit growth reported in September 2020. Margins improvement is expected to sustain given cost control measures and operating leverage. TVSM is expected to remain the fastest growing two-wheeler (2W) company with strong 20% earnings CAGR over FY2020-FY2023.
We retain our Buy rating on the stock with an unchanged price target (PT) of Rs. 470.
For all recommendations report, click here
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