Hero MotoCorp shares moved up around 2% in early morning trade after JPMorgan upgraded the stock to “overweight” and lifted its target price to ₹6,850. The brokerage said the company is finally showing clear signs of a turnaround, supported by steadier market share, stronger product launches, and tighter inventory discipline.
JPMorgan noted that the recent GST cuts have sparked fresh buying in the lower end of the two-wheeler category, which naturally benefits Hero, given its dominance in this segment. It also highlighted the company’s improving position in the electric vehicle space, adding that the upcoming product cycle looks healthier than before and should continue to support demand.
The report mentioned that Hero’s valuation is still trading at a discount compared to its peers. With visibility on growth improving, JPMorgan expects this valuation gap to narrow over time as investor confidence strengthens.
By 9:31 AM, Hero MotoCorp shares were up 1.41% at ₹5,881.50.
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