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Last Updated : Oct 31, 2019 04:22 PM IST | Source: Moneycontrol.com

Hold Maruti Suzuki; target of Rs 7500: Sharekhan

Sharekhan recommended hold rating on Maruti Suzuki with a target price of Rs 7500 in its research report dated October 24, 2019.

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Sharekhan's research report on Maruti Suzuki


Q2FY20 results were ahead of estimates due to better than expected operating margins, higher other income and lower tax. Demand headwinds to sustain in near term due to slower economic growth and increased cost of ownership; expect muted 2% earnings CAGR over FY2019-2021. Stock is trading at rich valuations of 29xFY21 earnings; thus leaving limited scope of upside from current levels.


Outlook


We retain Hold rating on Maruti Suzuki India Ltd (MSIL) with a revised PT of Rs 7,500.


For all recommendations report, click here


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First Published on Oct 31, 2019 04:22 pm
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