External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Hero Motorcorp Ltd. (HMCL) Q4FY22 performance was broadly in line with our estimates with EBITDA coming in lower than expected</li><li>We maintain a BUY rating on the stock given its reasonable valuations and revise our TP to Rs 3,000/share (Rs 3,150 earlier) to factor in near-term headwinds for the 2W industry</li><li>We value the stock at 15x FY24E EPS, implying a 24% upside from the CMP.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Hero Motorcorp Ltd. (HMCL) Q4FY22 performance was broadly in line with our estimates with EBITDA coming in lower than expectedWe maintain a BUY rating on the stock given its reasonable valuations and revise our TP to Rs 3,000/share (Rs 3,150 earlier) to factor in near-term headwinds for the 2W industryWe value the stock at 15x FY24E EPS, implying a 24% upside from the CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Hero Motocorp: EBITDA Miss; Growth Outlook Remains Positive