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Last Updated : Apr 29, 2019 01:31 PM IST | Source: Moneycontrol.com

Hold Hero MotoCorp; target of Rs 2800: Sharekhan

Sharekhan recommended hold rating on Hero MotoCorp with a target price of Rs 2800 in its research report dated April 26, 2019.

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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.


Outlook


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


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



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First Published on Apr 29, 2019 01:31 pm
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