Neutral Bosch; target of Rs 14,400: Motilal Oswal

Motilal Oswal 's research report on Bosch

Bosch’s (BOS) 1QFY21 revenue performance was better than the underlying industry volume growth for a second quarter in a row. We expect faster recovery due to strong tractor demand, addition of 2W segment and content increase. We believe BOS’s stock price is largely reflecting all the negatives, but a re-rating catalyst may emerge within 2-3 quarters. We have upgraded our FY21/FY22E EPS by 15.4%/7.2% to reflect faster-than-expected demand recovery and cost cutting initiatives.

Outlook

Maintain Neutral with TP of ~INR14,400 (~30x Sep’22E 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.

Read More