Sharekhan recommended hold rating on Hero MotoCorp with a target price of Rs 2800 in its research report dated April 26, 2019.
Sharekhan's research report on Hero MotoCorp
Subdued volume growth coupled with margin pressures to lead to muted 1% earnings growth over FY2019-2021. We have cut FY2020 estimates by 6% to factor earnings pressure. We rollover our valuation multiple to FY2021 estimates.
We retain Hold rating on the stock with an unchanged PT of Rs. 2,800. Hero MotoCorp (Hero) Q4FY2019 results met our modest expectations.
For all recommendations report, click here
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