Wednesday 12 November 2008

Hold Hero Honda, target Rs 920: KRChoksey

KRChoksey Research has recommended a hold rating on Hero Honda Motors with target of Rs 920 in its report on October 22, 2008. "Hero Honda has declared its Q2FY09 result which is almost in line with our expectation. The Net sales reported by the company is exactly in line with our estimation of Rs 3,202 crore whereas Net Profit is below expectation mainly due to increased input cost. The company has targeted to sell 6 lac bikes in the current festive season on the back of recent launched four new variants of its existing model coupled with sixth pay commission, further the company has plan to launch new bikes in the next 15-18 months. We recommend a Hold on the stock with a target price of Rs 920, implying an upside of 13.3%," says KRChoksey research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Source: Moneycontrol

Posted by Harsh at 09:24

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.