Accumulate Eicher Motors Ltd., target Rs 23999: Prabhudas Lilladher

Prabhudas Lilladher has an accumulate call on Eicher Motors Ltd. with a target price of Rs 23999. The current market price of Eicher Motors Ltd. is Rs 22280.3. Time period given by analyst is year, when Eicher Motors Ltd. price can reach defined target. Q1 standalone results were better than estimated, which resulted in an outperformance at the consolidated level as well. Prabhudas Lilladher upgraded estimates by 10.3% for FY18 and by 7.9% in FY18 to factor in the strong standalone operating performance.