Brokerages remain positive on TVS Motors (TVSMOTOR) post its Q3 FY25 earnings, citing market share gains, margin expansion, and PLI benefits as key drivers. Macquarie maintains an ‘Outperform’ rating, while JP Morgan (JPM) has an ‘Overweight’ call, both highlighting strong earnings growth potential.
Macquarie on TVS Motors: Maintains ‘Outperform’, target ₹2,857
Macquarie remains bullish on TVS Motors, maintaining its ‘Outperform’ rating with a target price of ₹2,857.
- Q3 FY25 EBITDA saw a modest beat, driven by better-than-expected gross margin.
- Market share gains and margin expansion are expected to drive industry-leading earnings growth.
- The firm believes that these factors will continue to support stock performance in the near term.
JP Morgan on TVS Motors: Maintains ‘Overweight’, target ₹3,130
JP Morgan has reaffirmed its ‘Overweight’ rating, highlighting strong operating performance and margin expansion.
- Q3 FY25 results were broadly in line with expectations.
- Raised margin expectations for FY25, based on management’s indication that all PLI benefits for the fiscal year will be accounted for in the March quarter.
- The firm had already factored in PLI benefits for FY26-27, so the near-term upside adds to earnings momentum.
Market Outlook
With strong market positioning, margin expansion, and upcoming PLI benefits, TVS Motors remains a favored pick among analysts. Both Macquarie and JP Morgan expect continued earnings growth, making the stock a strong performer in the two-wheeler space.
Disclaimer
This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research or consult professionals before making investment decisions. Business Upturn is not responsible for any investment outcomes based on this report.
