Motilal Oswal has given Buy recommendation for Hero Motocorp recommended buy rating on the stock with a target price of Rs 3500 in its researc with a target price of Rs. 3500 in its research report issued on May 07, 2021
Motilal Oswal’s research report on Hero Motocorp
HMCL’s performance was driven by efficient cost management under the Leap-2 program. Ongoing cost inflation will be managed by cost saving initiatives and price hikes. We maintain our FY22E/FY23E EPS estimate. However, we cut our P/E multiple to 16x Mar’23 EPS (v/s 18x earlier) owing to volume uncertainty and risk of electrification.
We maintain our Buy rating with a TP of INR3,500/share (~16x Mar’23E standalone EPS + INR154/share for Hero FinCorp).