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Neutral Hero Motocorp; target of Rs 3045: Motilal Oswal

Motilal Oswal recommended Neutral rating on Hero Motocorp with a target price of Rs 3045 in its research report dated August 14, 2020.

August 17, 2020 / 01:57 PM IST

Motilal Oswal 's research report on Hero Motocorp

HMCL has posted a notable operating performance in these tough times. The narrative around rural demand is positive, but supply chain ramp-up and broad-base demand are important for demand sustainability.


We upgrade our EPS estimate by 9% for FY21 to factor faster volume recovery. But, we maintain our Neutral rating, with TP of INR3,045 (~16x Sep’22 S/A EPS + INR98/share for Hero FinCorp).

For all recommendations report, click here


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first published: Aug 16, 2020 09:07 am
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