UBS has issued a buy call on TVS Motor and increased its target price to ₹3,200 per share, implying a 18% upside from the current market price of Rs 2,704 of TVS Motor shares. This recommendation comes in the wake of the company’s recent launch of the new Jupiter scooter, which UBS analysts view as a significant upgrade over both its predecessor and competitors, while maintaining a similar price point.
The new Jupiter model is expected to boost TVS Motor’s sales by an additional 15,000 to 20,000 units. UBS analysts believe that the launch of this upgraded scooter will provide a substantial volume boost for the company.
In addition to the new Jupiter, TVS Motors is anticipated to unveil a brand-new electric two-wheeler (E-2W) and enter the electric three-wheeler (E3W) market in the coming months. UBS views these upcoming launches as potential catalysts for further growth and market expansion for the company.
