IIFL has maintained its ‘Buy’ rating on Ceat, assigning a target price of ₹4000, which implies a potential upside of 29.62% from the current market price of ₹3,085.80.
Key highlights from IIFL’s analysis:
- The recently announced Michelin deal is seen as a good strategic fit and is expected to be EPS accretive.
- Valuations remain reasonable, with estimated 7-8% EPS accretion projected for FY26.
- The deal strengthens the case for a re-rating of Ceat’s stock, aligning with its long-term strategic goals.
Disclaimer: This is for informational purposes only and should not be considered as financial advice. Please consult your financial advisor before making any investment decisions.
