Jefferies has reiterated its Hold rating on Bajaj Auto with a target price of ₹8,000 following the company’s Q4FY25 earnings. EBITDA and PAT grew 6% YoY, coming in 4–5% ahead of the brokerage’s estimates, led by better average selling prices (ASP).
Jefferies remains positive on growth prospects in both domestic and export two-wheelers, and highlighted Bajaj’s rising presence in the EV segment as a key strength. However, it raised concerns regarding a decline in domestic motorcycle market share and falling volume share in India’s 2W exports.
The brokerage expects a 13% EPS CAGR over FY25–28, but noted that the stock’s current 26x FY26E P/E valuation leaves limited room for upside.
Disclaimer: The views and target prices mentioned in this article are as stated by Jefferies. They do not represent the opinions or recommendations of this publication. Readers are advised to consult their financial advisors before making any investment decisions.
