Name: Latest research reports of Hero MotoCorp Ltd. authored by Anand Rathi and published by - Trendlyne research reports.
Item: Hero MotoCorp Ltd.
Rating: 5
Author: Anand Rathi

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	12 Sep 2025	Hero MotoCorp	Consensus Share Price Target	5301.50	5106.40	-	-3.68	buy	pdf Detailed Estimates
	16 Mar 2023	Hero MotoCorp	Anand Rathi	5301.50	2855.00	2370.95 (123.60%)	Target met	Buy	pdf post cache	Broker Report Hero Motocorp Anand Rathi pdf Copy Link Share on Share on Share on Share on Alert
	10 Feb 2023	Hero MotoCorp	Geojit BNP Paribas Target	5301.50	2755.00	2583.30 (105.22%)	Target met	Hold	pdf post cache	Broker Report HERO MOTOCORP LIMITED Geojit BNP Paribas pdf Copy Link Share on Share on Share on Share on Alert
	09 Feb 2023	Hero MotoCorp	ICICI Securities Limited Target	5301.50	2940.00	2559.20 (107.15%)	Target met	Accumulate	pdf post cache	Broker Report Improved gross margin is the key positive ICICI Securities Limited Hero MotoCorp’s (HMCL) Q3FY23 EBITDA margin, at 11.5%, flat QoQ, (including 70bps impact of EV launch and festive season offers) was largely in line with our estimates. Gross margin expanded by 250bps QoQ led by a combination of price hikes and commodity price decline, though this gain was fully balanced by adverse operating leverage through 13% QoQ decline in volumes. pdf Copy Link Share on Share on Share on Share on Alert
	09 Feb 2023	Hero MotoCorp	Axis Direct Target	5301.50	2790.00	2559.20 (107.15%)	Target met	Hold	pdf post cache	Broker Report Result Update:Hero Motocorp Axis Direct Recommendation: We continue to maintain the HOLD rating as the company braces through the execution of its EV launch and product premiumization. pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2023	Hero MotoCorp	Motilal Oswal Target	5301.50	3100.00	2614.65 (102.76%)	Target met	Buy	pdf post cache	Broker Report Inline operational performance, driven by better realizations Motilal Oswal pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2023	Hero MotoCorp	ICICI Direct Target	5301.50	2770.00	2614.65 (102.76%)	Target met	Hold	pdf post cache	Broker Report Hero MotoCorp ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2023	Hero MotoCorp	SMC online	5301.50		2614.65 (102.76%)		Results Update	pdf post cache	Broker Report Hero MotoCorp Limited SMC online pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2023	Hero MotoCorp	Prabhudas Lilladhar Target	5301.50	3135.00	2614.65 (102.76%)	Target met	Buy	pdf post cache	Broker Report HERO MOTOCORP LTD. Prabhudas Lilladhar pdf Copy Link Share on Share on Share on Share on Alert
	08 Feb 2023	Hero MotoCorp	LKP Securities Target	5301.50	3212.00	2614.65 (102.76%)	Target met	Buy	pdf post cache	Broker Report HERO MOTOCORP LIMITED - Q3 FY23 Result Update LKP Securities pdf Copy Link Share on Share on Share on Share on Alert
	07 Nov 2022	Hero MotoCorp	ICICI Securities Limited Target	5301.50	2955.00	2588.90 (104.78%)	Target met	Accumulate	pdf post cache	Broker Report Largely in-line EBITDA; time for margin to pick up ICICI Securities Limited Hero MotoCorp’s (HMCL) Q2FY23 EBITDA margin, at 11.4% (up 23bps QoQ), missed consensus estimate of 12.3% though revenue at ~Rs91bn, up 8% QoQ, was higher than consensus estimate of Rs88bn. pdf Copy Link Share on Share on Share on Share on Alert
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58.54% Gain from 52W Low

Hero MotoCorp Ltd. share price target

Hero MotoCorp Ltd. has an average share price target of 5396.12. The consensus estimate represents an upside of 1.78% from the last price of 5301.50. View 14 reports from 8 analysts offering long-term price targets for Hero MotoCorp Ltd..

Hero Motocorp

HERO MOTOCORP LIMITED

Improved gross margin is the key positive

Result Update:Hero Motocorp

Inline operational performance, driven by better realizations

Hero MotoCorp

Hero MotoCorp Limited

HERO MOTOCORP LTD.

HERO MOTOCORP LIMITED - Q3 FY23 Result Update

Largely in-line EBITDA; time for margin to pick up

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