Jefferies has maintained a “buy” rating on Hero MotoCorp, projecting a 19.2% upside from its current market price of ₹4,612.65. The brokerage remains optimistic about the company’s operational efficiency, as evidenced by in-line Q2 results and record-high EBITDA per vehicle.
Despite the positive outlook, Jefferies raised concerns about Hero’s declining market share in the two-wheeler segment and shifting demand trends. However, it highlighted the potential for strong double-digit growth in India’s two-wheeler market over the next three years.
The brokerage also noted that success in premium motorcycles and electric vehicles could serve as a significant growth catalyst for the company, further supporting its bullish stance.
Disclaimer: This article is for informational purposes only. Please consult a financial advisor before making any investment decisions.
