Why Eicher Motors shares surged 8% today, stock price target, Q2 review
Eicher Motors Ltd saw its shares surging 8 per cent in Thursday’s trade as a few brokerage upgraded their ratings for stock after the auto major suggeted a renewed focus on growth over margins, with product interventions in Royal Enfield (RE).
Eicher Motors’ Q2 revenue and Ebitda missed the consensus estimates by 3 per cent and 6 per cent, respectively, amid 4 per cent lower average selling price (ASP) QoQ, hurt by elevated festive marketing spends. But analysts are positive on RE’s focus on growth.
Emkay Global upgrade Eicher Motors to ‘Buy’ from ‘Sell’ and suggested a target price of Rs 5,300 .
“Royal Enfield (RE)’s renewed ‘growth focus over margins’ with product intervention (such as relaunch of the Bullet Battalion…
