Citi has reiterated its “Buy” rating on Eicher Motors stock, with a target price of ₹5,350 per share. This suggests a marginal upside from the current market price (CMP) of ₹5,303.00.

Key highlights from Citi’s analysis:

  1. Robust December volumes:
    • The company reported strong vehicle volumes for December, indicating favorable inventory levels post the festive season.
  2. Upside risks to FY25 forecast:
    • The solid performance in December creates potential upside risks to the previously forecasted volumes for FY25.
  3. VECV growth trends:
    • Eicher’s commercial vehicle arm, VECV, delivered more modest growth during the period.
    • Bus volumes outperformed goods CV volumes, indicating a shift in demand dynamics.

Citi remains optimistic about Eicher Motors, highlighting robust December performance and potential growth opportunities in the upcoming fiscal year.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Readers should perform their own research or consult a financial advisor before making investment decisions.

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