UBS has issued a “Sell” call on Hero MotoCorp with a target price of Rs 3,350, indicating a potential downside of 42.2% from the current market price of Rs 5,795.00. UBS noted that Honda is confident of overtaking Hero as the number one player by FY25, having already gained a narrow lead in dispatches between April and August.
Honda also aims to surpass Hero in retail sales for FY25, with strong demand for scooters and motorcycles, especially in smaller cities and towns, driving its growth. Honda plans to further strengthen its position by entering the electric vehicle (EV) market.
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Hero Motocorp