Broker Radar for February 12

Check out the stock commentaries and recommendations from brokerage houses.

Feb 12, 2019 03:02 IST India Infoline News Service

CLSA maintained ‘Outperform’ On Eicher Motors; hiked TP to Rs23,900 from Rs22,300.
  • Weak volumes, but commendable margin resilience at Royal Enfield.
  • Volume growth under pressure; new 650cc bike seeing decent initial response.
  • Remain believers in RE’s long-term growth potential.
Macquarie Maintained ‘Outperform’ on Eicher Motors with a TP of Rs24,000.
  • Royal Enfield sales imp impacted by large price increases.
  • Expect Royal Enfield sales growth to pick-up.
  • Structural demand drivers remain intact.
Jefferies Maintained ‘Buy’ on Eicher Motors; cut TP to Rs23,700 from Rs27,100 
  • December quarter review: Sharp increase in realization drives positive surprise.
  • Cut revenue/EBITDA estimates for FY19-21 by 2-10%.
  • Despite near-term headwinds see strong medium to long-term prospects.
CLSA Maintained ‘Outperform’ on Motherson Sumi; cut TP to Rs150 from Rs180.
  • Weak Indian auto demand hurting standalone business.
  • SMRP to benefit from ramp-up of new plants but demand concern in Europe too.
  • Cut FY19-21 EPS estimates by 6-10% to factor in lower topline growth and margins in India.
(Source: media reports)

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