May 10, 2018 / 4:31 AM / 2 months ago

BUZZ-India's Eicher Motors gains on upbeat March-quarter results

** Indian automaker Eicher Motors Ltd rises as much as 2.94 pct to 31,207.45 rupees, its biggest daily pct gain in about a fortnight

** Co reported a March-quarter net profit of 4.62 bln rupees ($68.57 mln) after market hours on Wednesday, compared with a profit of 4.59 bln rupees a year earlier

** Deutsche Bank raises co’s price target to 34,500 rupees from 34,000 rupees, retains “buy” rating

** Expects Royal Enfield motorcycles volume compound annual growth rate (CAGR) for FY18-20 at 15 pct, which should drive EPS CAGR of 23 pct - Deutsche Bank

** Concerns on demand, growth and margins have been addressed effectively - Goldman Sachs

** Of 40 analysts covering stock, 28 have a “buy” or higher rating, three rate as “hold”, while nine rate it as “sell” or lower rating; median price target of 32,999.50 rupees

$1 = 67.3800 Indian rupees

0 : 0
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