JPMorgan has upgraded Hero MotoCorp to overweight and raised its target price to ₹6,850, highlighting multiple improving trends that support a more constructive view of the company. The brokerage said market share has stabilised after several years of erosion, driven by better product launches and more disciplined inventory management.
The brokerage added that recent GST cuts have revived demand in the lower half of the two-wheeler segment, giving Hero an additional tailwind. JPMorgan also pointed to improving market share in electric vehicles and said this, along with a healthier product cycle, enhances the company’s medium-term outlook. With valuations still at a discount to peers, the brokerage believes there is room for this gap to narrow as growth visibility strengthens.
Disclaimer: The views above are those of JPMorgan. Business Upturn does not endorse them. Please consult a financial advisor before making investment decisions.
