|
24 Sep 2025 |
Hero MotoCorp
|
Consensus Share Price Target
|
5370.50 |
5222.49 |
- |
-2.76 |
buy
|
|
|
|
|
14 Aug 2023
|
Hero MotoCorp
|
Axis Direct
|
5370.50
|
3150.00
|
3010.65
(78.38%)
|
Target met |
Hold
|
|
|
Recommendation: Market share gain through new launches remains critical for valuation rerating, post the recent run-up in prices. Our TP implies 5% upside from the CMP and as a result, we revise our rating from BUY to HOLD.
|
|
12 Aug 2023
|
Hero MotoCorp
|
ICICI Securities Limited
|
5370.50
|
3431.00
|
2998.20
(79.12%)
|
Target met |
Accumulate
|
|
|
Hero MotoCorp’s (HMCL) Q1FY24 EBITDAM was up 250bps YoY / 70bps QoQ at 13.8% (consensus: 13.2%). The beat was driven by lower commodity costs, price increases and cost savings with margins (for ICE business) back to FY19 levels of 14.5%.
|
|
13 Jun 2023
|
Hero MotoCorp
|
Prabhudas Lilladhar
|
5370.50
|
3200.00
|
2952.45
(81.90%)
|
Target met |
Buy
|
|
|
|
|
12 Jun 2023
|
Hero MotoCorp
|
Motilal Oswal
|
5370.50
|
3500.00
|
2930.40
(83.27%)
|
Target met |
Buy
|
|
|
|
|
12 Jun 2023
|
Hero MotoCorp
|
ICICI Securities Limited
|
5370.50
|
3133.00
|
2930.40
(83.27%)
|
Target met |
Accumulate
|
|
|
We interacted with Hero MotoCorp (HMCL) senior management to understand the company’s business outlook and strategy. Following are the key takeaways: 1) HMCL is looking forward to an all-inclusive growth with focus towards its core rural portfolio along with mid/upper-end premium models, EVs and exports.
|
|
11 May 2023
|
Hero MotoCorp
|
Geojit BNP Paribas
|
5370.50
|
2795.00
|
2585.45
(107.72%)
|
Target met |
Hold
|
|
|
|
|
09 May 2023
|
Hero MotoCorp
|
Sharekhan
|
5370.50
|
3006.00
|
2591.55
(107.23%)
|
Target met |
Buy
|
|
|
|
|
08 May 2023
|
Hero MotoCorp
|
Prabhudas Lilladhar
|
5370.50
|
3200.00
|
2576.35
(108.45%)
|
Target met |
Buy
|
|
|
|
|
08 May 2023
|
Hero MotoCorp
|
Axis Direct
|
5370.50
|
2900.00
|
2576.35
(108.45%)
|
Target met |
Buy
|
|
|
With an inexpensive valuation, the renewed focus on market share gains amidst 2W upcycle, and a healthy dividend yield (~5%), we foresee potential upside for the stock. We revise our rating to BUY from HOLD. Alternate Stock Idea: Besides Hero, we also like Bajaj Auto and TVS.
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06 May 2023
|
Hero MotoCorp
|
ICICI Securities Limited
|
5370.50
|
2912.00
|
2547.25
(110.84%)
|
Target met |
Accumulate
|
|
|
Hero MotoCorp’s (HMCL) Q4FY23 EBITDA margin was up 153bps QoQ at 13% (consensus: 11.9%). The beat was driven by 144bps QoQ rise in gross margin due to lower commodity costs and savings from LEAP programme.
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