172@29@17@106!~!172@29@0@53!~!|news|business|stocks|neutral-escorts-target-of-rs-1175-motilal-oswal-5614801.html?utm_source=MC_OpeninApp!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false
Moneycontrol
Subscribe to PRO at just Rs.33 per month. Use code SUPERPRO
Last Updated : Jul 31, 2020 01:34 PM IST | Source: Moneycontrol.com

Neutral Escorts; target of Rs 1175: Motilal Oswal

Motilal Oswal recommended Neutral rating on Escorts with a target price of Rs 1175 in its research report dated July 27, 2020.

Broker Research
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Motilal Oswal 's research report on Escorts


Escorts’ (ESC) 1QFY21 results were above estimates due to lower other expenses. While demand outlook was strong, the tractor industry is currently facing supply-side constraints, which should ease by mid-Aug’20. We have upgraded our FY21/FY22E EPS estimates by ~9%/7%, but are maintaining Neutral rating as the positives seem to be fully priced in.



Outlook


Valuations at 17.8x/15.5x FY21/22E consol. EPS largely reflect the expected recovery. Maintain Neutral with TP of INR1,175 (~16x Jun’22E consol. EPS).





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.

First Published on Jul 31, 2020 01:34 pm
Sections