Eicher Motors posts Q3 results; should you buy, hold, or sell?

Eicher Motors' consolidated net profit increased 34% to Rs 996 crore for the third quarter ended December 31, 2023, Year-on-Year (YoY) aided by robust sales across domestic and overseas markets.

The automaker also reported its highest-ever revenue from operations at Rs 4,179 crore, up 12% as compared to Rs 3,721 crore in the corresponding quarter of FY 2022-23.

Here's how brokerages view Eicher Motors:

CLSA upgrades to 'underperform' from 'sell'

Raises the target to Rs 3,906 from Rs 3,716.

The brokerage gives a target of Rs 4,900.

Jefferies continues with a 'buy' call

The brokerage increases the target to Rs 3,700 from Rs 3,615.

JP Morgan maintains a 'neutral' stance

Morgan Stanley iterates 'underweight' rating

The brokerage gives a target price of Rs 3,209.

Citi maintains 'buy'

Cuts the target to Rs 4,600 from Rs 4,700.

Nomura maintains 'neutral'

Raises the target to Rs 3,760 from Rs 3,640.

HSBC maintains 'hold'

Gives the target of Rs 4,500.

Macquarie maintains a 'neutral' stance

Gives a target of Rs 3,987.

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