'Buy' Hero MotoCorp shares with target price of Rs 3100–Rs 3200, says expert
Sharekhan says that Hero MotoCorp commands 65% market share in the combined economy and executive motorcycle segment, which together makes up 80% of the motorcycle market in India. Hero has strong reach in semi-urban and rural areas, aided by its largest distribution network in the 2W industry. Sharekhan says it expects Hero MotoCorp to be the beneficiary of rural demand and the increased need for personal mobility in a post COVID-19 scenario
Sharekhan expects Hero MotoCorp to reach its historical margin range of 14%-16%. Hence, Sharekhan has retained a Buy rating on Hero MotoCorp: Reuters