Buy Hero MotoCorp; target of Rs 4200: Sharekhan

Sharekhan’s research report on Hero MotoCorp

We maintain our Buy recommendation on the stock of Hero Motocorp with an unchanged PT of Rs 4,200. For Q4FY18, Hero reported in-line results with net profit growth of 35% driven by a strong volume growth and margin expansion on low base. On the back of positive rural sentiment, strong product pipeline and continued cost containing measures, we expect Hero to consolidate its leadership position in the two wheeler space.

Outlook

We maintain Buy recommendation on the stock with an unchanged PT of Rs 4200.

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