Motilal Oswal has given Buy recommendation for Maruti Suzuki recommended buy rating on the stock with a target price of Rs 10700 in its research with a target price of Rs. 10700 in its research report issued on Jul 27, 2022

Motilal Oswal’s research report on Maruti Suzuki

Maruti Suzuki (MSIL) reported an in-line operating quarter driven by higher realization. Favorable product lifecycle is likely to drive volumes, market share and margins, whereas moderating commodity prices and favorable FX are expected to boost margins.

Outlook

We maintain our FY23E/FY24E EPS. Reiterate BUY with a TP of INR10,700 (premised on ~27x Jun’24E consolidated EPS).

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