Eicher Motors comes on Brokerages' radar after Q3 Results.

Brokerage Houses like City, Jefferies, CLSA, Morgan Stanley and Nomura are bullish on Eicher Motors and recommended BUY ratings with up to 39% upside targets after Q3 results.

Eicher Motors reported Q3 Results on February 14, 2023. The company declared net profit jumped 64% to Rs 741 crore, revenue jumped 29% YoY to Rs.3,721 crores.

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Eicher Motors reported Adjusted EBITDA margin rose to 29.3% as compared to 19.6% in Q3FY22 a year ago.

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CITY has maintained ‘BUY’ rating with an 38.5% upside target of Rs 4,400 on Eicher Motors.

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Jefferies has maintained ‘BUY’ rating with an 33.8% upside target of Rs 4,250 on Eicher Motors.

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CLSA has maintained ‘BUY’ rating with a 26.2% upside target of Rs 4,007 on Eicher Motors.

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Morgan Stanley has maintained ‘Equal weight’ rating with a 12% upside target of Rs 3,553 on Eicher Motors.

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However, Nomura has kept a ‘Neutral’ rating with an 2.8% upside target of Rs 3,264 on Eicher Motors.

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